Personal Accounts Delivery Authority Winding Up Order 2010

My Lords, this was a public appointment and the noble Lord might be most helped if I write to him setting out the background of the process. On the issue of assurances about the investment profile of NEST, this is a matter for the trust corporation and its members. It is not for the Government or PADA to dictate how it should proceed, although it is given and will give advice. I hope the noble Lord will have gleaned from what I have just said that it looks as though the thrust of that advice will be towards lower-risk operations. I do not want to say too much because it is not for the Government to determine these matters; it is for the trust corporation to do that.