Baroness Bowles of Berkhamsted (LD)

My Lords, I will speak very briefly to Amendment 92 because it is a “what it says on the tin” amendment. It arose during a conversation. Somebody asked me what happens if a scheme is doing very well but is forced into consolidation because it does not meet the scale requirements. Would there be any legal consequences if it did not do quite so well under consolidation? On whom would those legal consequences fall if, as a result, somebody received a worse pension? Is there any comeback on the scheme because it was not big enough and so got consolidated? Is there any indemnity? Is there any making up? Let us take a theoretical situation in which the consolidator it goes into ends up doing very badly—I would hope that would never happen, but this is just to probe the safeguards around such circumstances. I could not answer the questions. It may be that there is something in the vast number of papers I have not read and the Minister can advise me. There is nothing terribly special or secretive behind it, it is just something that could happen, and can I obtain clarity about what comeback there may or may not be?