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Pension Protection Fund (Pension Compensation Cap) Order 2007

Perhaps I can help the Minister here. Even if, overall, private equity is helpful, I think everyone would agree that introducing a lot of debt into a company means there is more risk if things go wrong. The reason it is relevant to pension funds, given that most defined-benefit pension funds in this country are in deficit and the sponsoring employers are having to pay quite large amounts of money into the fund every year, is that if you end up with a weakened employer, it will inevitably be harder for it to keep paying in and covering the deficit. That is why people are worried.