The superannuation industry is working on a plan that would give funds access to a government-backed line of credit so they can lend to members experiencing coronavirus-related financial hardship, with the money to be paid back over time.

Sources said the Association of Superannuation Funds of Australia was spearheading efforts to tap the nation's $3 trillion retirement savings pool without exacerbating liquidity problems or demolishing the idea that super is solely for retirement.