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About Essential Super

What is Essential Super

Essential Super is a low-fee super fund you can easily manage in NetBank. It offers a choice of investment options and insurance, and is flexible so you can take it with you from job to job, keeping the same account as you move through your career.

Key features of Essential Super include:

  • Having your super visible in NetBank means you’ll never lose track of it again
  • Check your balance and make changes when it suits you
  • Low, easy to understand fees
  • Straight-forward lifestage investment options which change with your age
  • Support from our Super Sorter tool and Super Concierge service to help bring all your super accounts together so you can save on fees
  • Gold rating from SuperRatings

Essential Super is also a convenient solution for managing your business’ super obligations in NetBank.

Learn more

Take your super from job-to-job

  • Once you’ve got an Essential Super account (which only takes a few minutes to set up), simply sign a pre-completed Super Choice form and give it to your employer so they can make regular super guarantee (SG) contributions to your account
  • And if you start a new job, simply give your new employer a Super Choice form before you start to let them know where to pay your contributions
  • You can access the Super Choice form populated with all of your personal account details at any time through the quick links on your Essential Super account in NetBank – simply select ‘Have my employer contribute’ and you’ll access the form you need with all your details filled in

Add extra to your super

  • You may be able to make additional before-tax contributions (also known as salary sacrifice) to your Essential Super account. Simply contact your employer and discuss if you can make salary sacrifice contributions from your pay
  • Making additional, after-tax contributions to your super is a great way to boost your balance for your retirement
  • You can easily make extra after-tax contributions by transferring money from your linked bank accounts in NetBank
  • Remember, any money you add to your Essential Super account is subject to superannuation laws. You may not be able to access these funds until you satisfy certain conditions, such as when you retire or turn 65
  • Make sure you keep in mind the caps that apply to the contributions you can make without incurring extra tax
  • You can learn more about making contributions to your Essential Super account in the Essential Super Reference Guide 

Consolidate your super

  • Having all of your super visible in NetBank makes keeping track of it easier 
  • Bring all of your super together into your Essential Super account so you can avoid paying multiple sets of fees
Bring your super together in just a few easy steps
  • We’ve created an online tool available through NetBank to help you bring your super together in a few easy steps
  • To get started, log on to NetBank, then select ‘Consolidate my super’ through the quick links next to Essential Super on your homepage
  • Select where you already have super and we'll guide you through the rest. You’ll be able to submit your request electronically so you won’t need to fill out or print any forms
  • Before making a decision, you should compare the costs, risks and benefits of your other funds against Essential Super. It’s also a good idea to consider things like fees, loss of insurance cover and any costs for withdrawing from your other super funds as well as any investment or tax implications
Our Super Concierge service will then do the hard work for you
  • We'll help you transfer all of your super into your Essential Super account by:
    • Chasing your other super accounts for you
    • Ensuring there’s no missing information
  • You can find out more about this service by visiting any CommBank branch or calling 13 40 74.

Rates & Fees

Cash Deposit option


All other investment options

Determined in the unit price of each option

* This interest rate is subject to change and does not include a deduction for the tax payable by your super fund on earnings, currently up to 15% and subject to change.  For example, if the interest rate quoted above is 3% p.a. your investment should earn at least 2.55% p.a.


Monthly fee


Combined Investment & Administration Fee – Cash Deposit option

0% Per annum

Combined Investment & Administration Fee – All options excluding Cash Deposit option

0.80% Per annum

Transactions costs may apply which are incorporated into each investment options unit price.

Refer to the PDS and Reference Guide for more information.

Investment options

Leave the investment decisions to us, or choose your own mix of investment options

Option 1 – Leave it to us

Learn more about the insurance available in Essential Super, including the conditions that may apply, in the Essential Super Reference Guide.

You can change options at any time in NetBank or by calling 13 40 74.

Option 2 - Choose your own mix

If you’d like to be more involved, you can choose from three easy investment options in addition to the Lifestage option:

Balanced option 

  • Provides a balance between growth and security

Australian shares option

  • Offers higher growth potential

Cash Deposit option

  • Provides the security of cash, with no management fee
  • The current rate for the Cash Deposit option is 2.50%*

Unit prices
View the latest unit prices for all Essential Super investment options.

Remember, the value of investment options will go up and down and returns are not guaranteed.

* This interest rate does not include a deduction for the tax payable by your super fund on earnings, currently up to 15%. For example, if the interest rate quoted above is 4.00%, your investment should earn at least 3.40%.

Pre-approved insurance

When you open an Essential Super account, you’re automatically approved to receive insurance cover for:

  • Death cover
  • Death and Total Permanent Disability cover

Essential Super insurance features include:

  • Pre-approved standard cover – no medicals required (provided you start your cover by putting money in your account within 120 days of opening it)
  • Flexibility to double, halve or remove your cover at any time
  • The premium is deducted from your super balance, so you’re never out of pocket

Learn more about the insurance available in Essential Super in the Essential Super Reference Guide.

You can change your Essential Super insurance cover at any time through NetBank or by calling 13 40 74.

PDS and forms

Important documents

Essential Super – Product Disclosure Statement (PDF 315kb)

Essential Super – Reference Guide.pdf (PDF 826kb)

Essential Super – Annual Financial Report.pdf

Forms and flyers

Essential Super – Bring Together my super form.pdf (PDF 56kb) - Transfer any other super fund balances into your account

Essential Super – Super Choice form.pdf  (PDF 48kb) - Have your employer pay super contributions to your account

Essential Super – Temporary Resident form.pdf  (PDF 110kb) - Withdrawal form for customers who have entered Australia on an eligible temporary resident visa

Essential Super – Withdrawal form.pdf  (PDF 89kb) - Withdraw funds from your Essential Super account 

Essential Super – Notice of intent to claim a tax deduction form.pdf  (PDF 158kb) - Self-employed and claiming a tax deduction on contributions

Essential Super – Non-lapsing death benefit nomination form.pdf (PDF 94kb) - Indicate who to pay your super to in the event of your death

Essential Super – Contribution declaration form.pdf (PDF 44kb) - Declare you are eligible to contribute to your super when you're 65 years of age or older

Essential Super – Statement Guide.pdf (PDF 297KB) – An easy guide to help you understand your 6 monthly statement

Product dashboard

Product dashboard 3 December 2013


Investment option

Return target

Return target

Return target for 2013-2023 after fees and taxes. Future returns cannot be guaranteed. This is a prediction.

Lifestage 1940s

CPI plus 3.6% per annum

Lifestage 1950s

CPI plus 3.8% per annum

Lifestage 1960s

CPI plus 4.9% per annum

Lifestage 1970s

CPI plus 4.9% per annum

Lifestage 1980s

CPI plus 4.9% per annum

Lifestage 1990s

CPI plus 4.9% per annum


This product commenced in June 2013. No historical data is currently available.

Comparison between return target and return

This product commenced in June 2013. No comparison is currently available.

Level of investment risk*

Investment option

Risk label

Estimated number of negative annual returns over any
20-year period

Lifestage 1940s

Low to medium

1 to less than 2

Lifestage 1950s


2 to less than 3

Lifestage 1960s

Medium to high

3 to less than 4

Lifestage 1970s

Medium to high

3 to less than 4

Lifestage 1980s

Medium to high

3 to less than 4

Lifestage 1990s

Medium to high

3 to less than 4

Statement of fees and other costs^

Fees and other costs for a member with a $50,000 balance throughout the year.

$460 per year


*Level of investment risk

The level of investment risk is the Trustee’s estimate of the risk of negative investment returns over a 20-year period. It is not a complete assessment of all forms of investment risk. For instance, it does not detail what the size of a negative return could be or the potential for a positive return to be less than what a member requires to meet their objectives. Further, it does not take into account the impact of administration fees and tax on the likelihood of a negative return. You should ensure you are comfortable with the risk and potential losses associated with your investment options.  The risk measures are calculated in line with the guidelines in the Financial Services Council (FSC) Guidance on Standard Risk Measure Guidance Paper for Trustees’ dated July 2011. This rating is based on the asset allocation benchmark of the fund at the date of the dashboard and does not take into account future movements of this benchmark.

^Statement of fees and costs

This amount includes investment fees, administration fees and costs, but excludes buy-sell spreads, activity fees, insurance fees and costs.

Further information

For further information about the Lifestage option and the fees and costs payable, you should refer to the current Product Disclosure Statement.



Sorting out your super


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Important information

Colonial First State Investments Limited ABN 98 002 348 352, AFS Licence 232468 (Colonial First State) is the issuer of interests in Commonwealth Essential Super ABN 56 601 925 435. This information is not financial product advice and does not take into account any person’s individual objectives, financial circumstances or needs. You should read the Product Disclosure Statement (PDS) for Commonwealth Essential Super and consider talking to a financial adviser before deciding whether to acquire or continue to hold this product. Click here to download the PDS, collect one from any branch of the Commonwealth Bank or call us on 13 4074 and we’ll post one out to you. Colonial First State is a wholly owned subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124 (‘the Bank’). The Bank and its subsidiaries do not guarantee the performance of Essential Super or the repayment of capital by Essential Super. 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.  An investment in Essential Super is subject to risk, loss of income and capital invested.