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Pension Protection Fund (Pension Compensation Cap) Order 2008

It would be odd to do something simply to try to reduce the levy. If there are risks in the scheme and the employer is a sponsoring employer with responsibility for that scheme, it is entirely reasonable that the employer should direct their attention to how that scheme can be properly funded. I therefore do not quite follow the noble Lord’s point. I do not believe that it could be argued that the structure of the levy drives sponsoring employers into difficulties. The focus and construction of the levy could encourage schemes to be appropriately funded. That is in part what is happening. I hope that that has dealt with the point that the noble Lord wanted covered and that it has dealt with each of the other points that noble Lords have made.