Superannuation will definitely play a more specific and significant role in the economic policy of the Labor Party should it win the federal election.

SMSF trustees are allowed to employ short-term borrowings in some specific circumstances to satisfy certain financial commitments of a fund.

The budget has corrected an administrative oversight removing a requirement for SMSFs to report fund information only relevant for retail and industry superannuation funds.

The fact superannuation changes announced in this year’s federal budget have been minor has been welcomed by the main financial services bodies.

Superannuation is likely to play a bigger role in the nation’s economy should Labor win the federal election to be held later this year.

A Fidelity International survey has found women are reluctant to plan for retirement and make voluntary contributions to their superannuation.