The USS pension scheme 2020 valuation - UCU University of Leeds Branch open meeting

Ben Plumpton, Mark Taylor-Batty and Vicky Blake of UCU University of Leeds Branch of the on the widely-disputed 2020 valuation of the USS pension scheme. Taken from the branch's open meeting on USS pensions 11 March 2021. (The question and answer section of the meeting is not included in the recording.)
Terms:
UCU: University and College Union
USS: Universities Superannuation Scheme (the pension scheme)
UUK: Universities UK (the collective body representing the management of the universities, in this context)
JEP: joint expert panel, set up to try to solve a previous, related dispute
CPI: Consumer Price Index measure of inflation
Defined Benefit pension scheme: where the scheme is managed so that people know what they will get when they retire (currently by people who it seems would prefer it if we had a ...)
Defined Contribution pension scheme: where you pay money in and don't know what it will be worth when you retire. (More usefully described, for these purposes, as a 'variable benefit scheme'.)