Mr. Liam Berney:

I thank the Senator. As people will know, where you have collectively bargained defined benefit or defined contribution occupational pension schemes, death in service benefit usually forms part of that scheme. What it means is that if a worker unfortunately dies while still in employment with an employer, there is an amount of money allocated to their estate to provide for their family or the people who are beneficiaries of their estate. It is typically an insurance product and usually cheap. Auto-enrolment should mirror in as many possible aspects as it can occupational pension schemes that already exist in the economy. One will find that defined benefit schemes and defined contribution schemes that are collectively bargained have a death in service benefit as part of that. It is usually between two and a half to four times annual earnings in terms of a benefit to the estate of somebody who is deceased.