Member

Given that consolidation will result in the transfer of members’ assets, as the noble Baroness has stressed, it is important that the process is secure and robust, so a number of safeguards will be put in place. Given the significant volume of pots, it may be that something will go wrong occasionally, when an error is made. The Bill includes powers to create a liability and compensation framework to ensure that, if anything were to go wrong, the member will be appropriately compensated. I hope that, with that, noble Lords will not press their amendments.