---

Pensions Bill

No, it means two things. Personal accounts can, and perhaps will, crowd out non-qualifying schemes—that is perfectly obvious—unless the schemes can be so tweaked, as I put it earlier, to make them qualifying. The system allows that; by definition they will be crowded out. I do not quite see what the noble Baroness is getting at; perhaps she will take me aside in her inimitable way later if she does not want to pursue the point now. If I were sitting a university oral, I would, from what the Minister said, get somewhere around half marks: he likes the idea in principle of a lot of what I have been saying but he does not like the actual formulation of the amendment. Fair enough; I will certainly not pursue any of this today. I am slightly surprised by his remarks on Amendment No. 113HA. He said that the four qualifying principles should be the province of the DWP. I will have to think further about that. He also repeated—I was delighted to hear this—what his honourable friend said in another place; that is, that the annual report will include compliance, so that does not need to be in the Bill. It would be an awful shame if we suddenly found that such compliance was not in the annual report or the Bill. However, I am not in the mood to divide the Committee so the Minister can relax.