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Personal Accounts Delivery Authority Winding Up Order 2010

My Lords, I do not think that that is right. I am sure that the noble Lord will draw to the attention of PADA and NEST the detailed debates we have had about the investment policy and what the principle should be; I remember them well. I hope they are now drawn, fully and properly, to the attention of the people taking these decisions so that they are aware of what Parliament’s intention was. If they look at those debates and the noble Lord revisits them, they will see that there is no way that investment in hedge funds or private equity is appropriate. I recall that we had a discussion on the PPF with Lawrence Churchill, who initially did not seem to take much notice of what Parliament had said. I am pleased to say that he then very quickly took notice and behaved in a more proper way. I hope that the Minister will focus on this, take the matter away and draw it to the attention of these people, who do not seem to be aware of what was said in Parliament. I am sure that if he looks at what he said and what we said in Committee on the Pensions Bill, he will see why I am concerned.