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Pension Protection Fund (Pension Compensation Cap) Order 2007

We have to look at this over a longer period. Particularly in the early years, there will be a build-up of schemes in the assessment phase and potentially then under the protection of the fund. I would imagine that there will be a convergence of the levy and the ceiling in later years as more schemes move into the fund. In the early years there is scope for a gap, but I think it would be wrong to try to close it by imposing a higher levy, taking more than is necessary in the short term. I hope that I have dealt with all the queries and accordingly I urge noble Lords to agree to these orders and regulations. On Question, Motion agreed to.