How Essential Super works for your business

  • Manage in NetBank

    Set up and manage your employees’ super contributions, all in NetBank.

  • MySuper approved1

    Can be used as a default fund for your business to easily meet your super obligations.

  • No fees

    No fees for your business, and your employees benefit from competitive fees.

  • SuperStream compliant

    Meet the government standard of making streamlined compliant super contributions.

Essential Super for you

  • We're working with Colonial First State to provide Essential Super for individuals, a super fund which offers choice in what you invest your money in and allows you to track it in NetBank or the CommBank app.

    Explore Essential Super

Essential Super has passed the 2022 MySuper performance test

    • APRA has released the results of its annual test into the performance of MySuper products and Essential Super has passed for 2022.
    • The performance test was introduced in 2021 to provide super members with more visibility on how their super is performing, and ensure super funds are focused on improving investment returns and keeping fees as low as possible. The test only applies to MySuper products, which for Essential Super is the ‘Lifestage’ investment option. For more information, please visit the APRA website.

Show me important documents and information related to Essential Super for business.


Features for your employees

  • Manage in NetBank and the CommBank App

    Employees can manage their super account in NetBank and the CommBank app, including checking balances anytime and making extra contributions.

  • Competitive fees

    Employees can benefit from competitive fees and a dedicated helpline for all their queries.

  • Automatic insurance2 cover

    Death and Total & Permanent Disablement (TPD) cover if they’re under 60, over 25 years of age and have an account balance of at least $6,000 (provided they have money in their account within 120 days of opening it). They may change or cancel cover any time.

  • Investment options to suit age

    Employees are defaulted into the MySuper investment option that automatically adjusts based on their age. They can also choose from three other investment options.

Knowing your super obligations

Here's some key information you need to know as an employer

  • From 1 July 2023, you must pay at least 11% of your employee’s salary into their super fund if they’re eligible to receive Super Guarantee (SG) contributions.
  • To avoid penalties, employer SG contributions must be made before the quarterly cut-off dates set by the Australian Taxation Office.
  • You must contribute a new employee’s super into their active superannuation account linked to their TFN. To find out more please visit the ATO website. If they do not have an active superannuation account linked to their TFN, you can set up an Essential Super MySuper account for them. Your employees can still provide you with a Super Choice form at any time to change where they would like you to pay their SG contributions.
  • You need to follow the SuperStream standard for super payments – the government standard for processing superannuation data and payments electronically.

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Things you should know

  • MySuper accounts offer restrictions on the type of fees that can be charged, simple features so you don’t pay for services you don’t need and a single diversified investment option or a lifecycle investment option.

    Insurance is subject to certain exclusions. Please refer to the insurance section in the Reference Guide for more information on insurance exclusions.

    Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL) is the Trustee of Essential Super ABN 56 601 925 435 and the issuer of interests in Essential Super. Essential Super is distributed by the Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). Colonial First State (CFS) is Superannuation and Investments HoldCo Pty Limited ABN 64 644 660 882 (HoldCo) and its subsidiaries which include AIL. The Bank holds an interest in CFS through its significant minority interest in HoldCo.

    This information is issued by AIL and may include general financial product advice but does not consider your individual objectives, financial situation, needs or tax circumstances, and so you should consider the appropriateness of the advice having regard to your circumstances before acting on it. The Target Market Determination (TMD) for Essential Super can be found at and includes a description of who the financial product is appropriate for and any conditions on how the product can be distributed to customers. You should read the Product Disclosure Statement (PDS) and the Reference Guide for Essential Super carefully and consider whether the information is appropriate for you before making any decision regarding this product. Download the PDS and Reference Guide at or call us on 13 4074 for a copy. Neither the Bank, AIL, CFS, nor any of their respective subsidiaries guarantee the performance of Essential Super or the repayment of capital by Essential Super. An investment in this product is subject to risk, loss of income and capital invested. An investment in Essential Super is via a superannuation trust and is therefore not an investment in, deposit with or other liability of the Bank or its subsidiaries. Where we mention ‘we’, ‘us’ or ‘our’, we mean AIL.

    The insurance provider is AIA Australia Limited ABN 79 004 837 861, AFSL 230043 (AIA Australia). AIA Australia is not part of the Commonwealth Bank Group or CFS. The insurance cover is provided under policies issued to the Trustee.