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Gail Davies Profile picture
@gailfdavies
Mar 8, 2018 • 11 tweets • 8 min read • Read on X
Reconstructed thread on the role of consultants in "Challenging the “DB good, DC bad” viewpoint' and 'How do we make flexible retirement the norm?' for the #USS pension scheme. #ucustrike (thanks to @felicitycallard)
Here is the line for consultancy fees, including scheme change, in 2017 in the #USS accounts. uss.co.uk/~/media/docume… …. There is no information in the document about who these millions have gone to. #ucustrike
But we have clues .. here is the powerpoint presentation author (from @AonHewitt to UCEA in 2015) and the of advisors in the 2017 #USS documents
And here is the move of key personal from Aon to USS. Thanks to @felicitycallard again.
At this point it is worth looking at @felicitycallard longer thread and her work on the shift in position on DB to DC over the last 8 or years, prompted by regulations, economics and facilitated by this consultancy #ucustrike
It is also worth reading Dennis Leech from Warwick on how ‘most of the actuarial profession has undergone an epic ontological conversion from having a world view based on macroeconomics to one based on financial economics.’ blogs.warwick.ac.uk/dennisleech/mo… … #ucustrike
Plus, check in with some industry insiders: to quote: "I’m sure that there are those within that organisation [ie Aon] who believe these activities are building the brand in the right direction – I cannot hold it against them that they are so misguided."henrytapper.com/2014/12/27/hop…
Even Aon's own newsletters suggest that people will be jumping ship from the USS scheme to teacher schemes and local government schemes aon.com/unitedkingdom/… …
At which point it is worth considering what the consultancy fees for scheme change management are actually for. According to the #USS accounts, the main risk of bad management of change is the reputational damage amongst key stakeholders.
So, more confirmation that the landscapes of pension change are deeply complex and lack transparency. At the very least, I think we, and the #USS should be asking for their consultancy fees back... and us for meaningful engagement with members as THE key stakeholder
Thanks again to @felicitycallard @CLIVEYB @gsvoss @FrenchShaun @inneskeighren @AmooreLouise and many more for co-research and support

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More from @gailfdavies

Gail Davies Profile picture
Apr 14, 2018
In the end I voted no. I didn’t have confidence in #UUK to rebuild trust on its own terms. I didn’t feel able to vote for a panel whose terms of reference were not laid down in advance. I didn’t think these were unreasonable demands then.
I don’t think they are unreasonable demands now. However, it is clear how much vigilance will be required on how #UUK will seek to shape process. But it is not clear to me now who will provide this and how it will happen.
Having put this to the ballot I want @ucu to now tell us the key processes, roles and points at which we as branches, #uss members, and university employees will be able to shape next stages in #ucustrike. But I am not confident here either.
Read 4 tweets
Gail Davies Profile picture
Mar 16, 2018
Quickly pulling past thoughts together, here’s a collation of my last two weeks of threads on value, politics and knowledge in #ucustruke. I’ve ordered these explorations of the sites making the #uss pension dispute through the intersection of different registers of value
It started with a rant to those who said academics needed to join the real world, which at root was an argument about unrecognised academic surplus labour, accumulated as *surplus-value* by universities whilst vital to other innovation processes #ucustruke
It was quickly clear other knowledges were being mobilized, in particular by management consultancies creating new spaces of *speculative value* both in the management of higher education and in the move to DC pensions. Inspired by @CLIVEYB I started here
Read 10 tweets
Gail Davies Profile picture
Mar 15, 2018
This thread ⬇️ still sums up my thoughts on what would be enough. I’m going to expand in a personal note to @ExeterUCU. If you have liked or RTed this, i wonder if you might like to do the same with your branch rep #nocapitulation #ucustrike #letsdoprocess
For me, point 2 refers to retaining current DB/DC mix, with potential to revise some key parameters - thresholds, accrual rates, contributions etc within acas negotiated offer - after evidence from new independent valuation, modelling of impact for ecr and addressing governance
I’m also going to sign the #USSAthenaSwan letter calling for equality issues to be central to future process of #USS review. Thanks to @claire_marris and @turingfan and others for putting that together.
Read 4 tweets
Gail Davies Profile picture
Mar 12, 2018
After a week of exploring the role of consultancies in shaping the shift to DC benefits in #USS pensions with @felicitycallard and @CLIVEYB , this week I am delighted to announce the launch of the new "Picket Pensions Consultancy" (#PicketPC ) #ucustrike #usstrike
Anyone who needs a quick recap on how consultancies shape landscapes and appetites for risk might want to check in with the archiving of this thread by pensions expert @henryhtapper henrytapper.com/2018/03/08/the… #uss #ucustrike see also #ucustrike #usstrike
If you want a longer academic read on how consultancies are contributing to reshaping the direction of financial innovation around universities, and why this matters, you can can explore the synthesis of @CLIVEYB #ucustrike #usstrike
Read 10 tweets
Gail Davies Profile picture
Mar 3, 2018
I enjoyed reading the @AonHewitt advice to universities re #USS on "Challenging the “DB good, DC bad” viewpoint' and 'How do we make flexible retirement the norm?' and thought those in @ucu and on #ucustrike might too ucea.ac.uk/download.cfm/d…
And perhaps not surprisingly the presentation has now disappeared. I am delighted to have been able to share highs of the 'future potential me' and lows of the 'current future me' with people. Thank you all for playing
If you wish to return to this one, it has been added to a wiki site where @SusiSadler is archiving information, arguments and issues about the #USS #ucustrike
Read 4 tweets

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