Don't get your "pension" definitions mixed up when it comes to Labor's proposal on franking refunds, says Sam Henderson, who answers your questions on superannuation.

Q: Hi Sam, query or clarification please – under the Labor proposal [to stop the refund of unused franking credits], would SMSFs already in pension mode as at March 28, 2018 be exempted? Pension mode meaning an account-based pension and/or a transition to retirement pension? Brian