Frequently asked questions

What is a Superannuation Savings Account?

The Superannuation Savings Account is a simple, capital guaranteed, low cost super account.

The money you put into your Superannuation Savings Account is capital guaranteed by the Commonwealth Bank, which means it is safe from market fluctuations. As a complying Superannuation product (under current Government legislation), a condition of release must be met before withdrawals from the account can be processed.

For information on conditions of release, see the ATO website.

How do I deposit money into my Superannuation Savings Account?

There are a number of ways that you can add money to your account.

  • BPAY
    To use BPAY you will need to determine which of the following contribution types apply:

    Contribution type
    Personal contributions - Biller code 131078
    Spouse contributions - Biller code 131060

    You will need to use your nine digit Superannuation Savings Account number for the BPAY customer reference number (CRN).

  • Direct debit
    You can make regular monthly deposits to a Superannuation Savings Account by establishing a direct debit and completing the Superannuation Savings Account Direct Debit Authority (Regular Savings Plan) form.

    Under the direct debit arrangement the Bank will automatically debit your Commonwealth Bank or other financial institution account. Direct debits are only available on a monthly basis.

  • Deposit at your local Commonwealth Bank Branch
    You can make a personal or spouse contribution at any Commonwealth Bank branch with your deposit of cash, cheque or account transfer.

  • Mail us a cheque
    Cheques made payable to Commonwealth Bank Superannuation Savings Account can be posted directly to:
    Superannuation Savings Account
    GPO Box 3306
    Sydney NSW 2001

What are the rates, returns and fees for a Superannuation Savings Account?

You can check the current rates and fees online 24 hours a day, 7 days a week.

Further details on your policy can be obtained by calling 13 2015 between 8.30am and 6pm (Sydney time), Monday to Friday (option 5, then option 2).

How do I roll-over money from my other Superannuation funds into my Superannuation Savings Account?

To roll-over money from other superannuation funds into your account, download the Superannuation Savings Account Consolidation form and send it to your existing Super fund.

You will need to complete a separate form for each fund you wish to transfer money from.

What is the difference between the Standard Rate and a Fixed Term option for Superannuation Savings Account?

The Standard Rate option means you have a variable interest rate which can go up or down from time to time.

The Fixed Term option works like a fixed interest rate on a term deposit where you can lock in the offered interest rate for between 1 - 5 years.

For more information about these options please refer to the SSA Product Disclosure Statement Part 2 - Latest interest rates.

When will I receive my Superannuation Savings Account statement?

Superannuation Savings Account statements are issued twice a year for the periods ending 30 June and 31 December.

The June statement includes your balance as at 30 June as well as any transactions for the previous financial year and is issued in late August.

The December statement includes your balance as at 31 December as well as any transactions for the previous six months and is issued in late February.

Customers can request statements at any other time of the year by calling 13 2015 between 8.30am and 6pm (Sydney time), Monday to Friday, (option 5, then option 2).

How do I make a withdrawal from my Superannuation Savings Account?

To request a withdrawal or rollover, you will need to complete a withdrawal form which you can obtain by calling 13 2015 between 8.30am and 6.00pm (Sydney time), Monday to Friday (option 5, then option 2) or by visiting any Commonwealth Bank branch.

For information about withdrawing from your Superannuation Savings Account, including details on preservation rules, conditions of release and tax rates that may apply to your benefit, please refer to the Tax and other information' brochure.