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Pensions Bill

The noble Baroness should think about how that will work in practice. Unless there is a need to know the annual build-up of the contributions within the personal accounts scheme, why would that scheme need the kind of architecture that allows this detailed tracking, year by year, which is maintained, as I outlined, for up to 60 years? Once the money is in, within a certain limit—I refer to those years for which there might be corrections—there will be no need for the personal accounts scheme to have that detailed history of how it was built up, because it would just be in an allocated pot that was accumulating. The history will be history and of no relevance. That I why I believe that additional burdens will be put on to PADA.