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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 chosen 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
      Locked Bag 5429
      Parramatta NSW 2124

  • 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 9:00am and 5:00pm (AEST/AEDT), Monday to Friday, excluding public holidays.

  • How do I roll-over money from my other superannuation funds or retirement savings accounts into my Superannuation Savings Account?

    To roll-over money from other superannuation funds or retirement savings accounts into your Superannuation Savings Account, download the Superannuation Savings Account Consolidation form and send it to Superannuation Savings Account, Locked Bag 5429, Parramatta NSW 2124.

    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 the 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 a fixed period of time.

    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 also request statements at any other time by calling 13 2015 between 9:00am and 5:00pm (AEST/AEDT), Monday to Friday, excluding public holidays.

  • 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 9:00am and 5:00pm (AEST/AEDT), Monday to Friday, excluding public holidays.

    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.

Things you should know

  • Commonwealth Bank of Australia ABN 48 123 123 124, AFSL No. 234945 (Commonwealth Bank) is the issuer of Superannuation Savings Account. Superannuation Savings Account is capital guaranteed by Commonwealth Bank. This information is issued by Commonwealth Bank and may include general advice. As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances and the relevant disclosure documents, available by visiting commbank.com.au/ssa or by calling 13 2015.

    Resolution Life Services Australia Pty Ltd ABN 49 631 346 391 (Resolution Life), on behalf of Commonwealth Bank, is the administrator of the Superannuation Savings Account. AIA Australia Limited (AIAA) ABN 79 004 837 861, AFSL No. 230043 provides insurance benefits available through the Superannuation Savings Account under a group policy held by the Commonwealth Bank. Resolution Life and AIAA are not part of the Commonwealth Bank Group.