I'm still making my way through the #USS valuation document, but am struck by how just much responsibility those in charge of the scheme have for the turmoil that engulfed to the HE sector in recent years. 1/

By being unwilling to engage with well-made criticisms of their methodology and logic, whether by @UCU and its actuaries, scheme members, or even one of their own scheme directors, #USS have been very slow to admit poor judgement. 2/

I mean, @FirstActuarial's 2014 analysis by @RedActuary and @Derek_Benstead had it all. And no-one at #USS (bar Jane Hutton) was listening. For example, Here's #USS now admitting an error of logic pointed out by Hilary and Derek in 2014. 3/

Drip by drip, #USS are indirectly admitting to poor judgement in past valuations. In their most recent dismissal of evidence showing that de-risking will not be beneficial to the scheme, they are still making those poor judgements. We cannot allow this to go on. 4/4