Northern Rock plc Transfer Order 2009

The Minister said that he had not managed to answer all my questions. In fact, I asked him relatively few questions. There is one that I would like him to answer before I conclude, which relates to the pension fund. The Minister responded in respect of creditors globally, but I raised some specific questions about the pension scheme and the defined benefit element of it. Mr Frank Field has said in an article in Pensions Week that the pension scheme has been left in the bad bank and that the only destination for it will be the pension protection fund, with the potential for less than full pensions being payable, because the PPF does not guarantee by a long way full payment of pensions. Is that so?