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About Essential Super

Why Essential Super?

Essential Super is an easy to understand superannuation account you can track in NetBank and the CommBank app

  • See and manage your super alongside your other accounts
    See your super in the CommBank app or NetBank. Manage your account and change your investment and insurance options in NetBank anytime.

  • Competitive, easy to understand fees
    Your super is your future - don’t let it get eaten away by unnecessary fees. Essential Super has competitive, easy to understand fees and no withdrawal (or exit) charges.

  • Easily bring your super together
    Don't pay multiple sets of fees. We'll help combine your super into one Essential Super account.*

  • Investment options to suit your needs
    Four investment options including Lifestage, which automatically adjusts your investment mix over time.

  • Automatic insurance cover
    Automatically receive Death and Total and Permanent Disablement cover when you fund your account within 120 days of opening it.^

  • Take your super from job to job
    Your super is your money. Avoid having multiple accounts by taking your super with you when you change jobs.

Important things to consider:

* Before you make a decision about your super, you should compare the costs, fees, risks and benefits of your other super funds with Essential Super. It makes sense to consider whether you can replace any insurance cover you may lose when you bring your accounts together, as well as any costs for withdrawing from other super funds and any investment or tax implications.

You should decide which super fund you want your employer to pay your future employer contributions to and complete a Super Choice form if necessary.

You need to be an Australian resident, living in Australia and under the age of 60 and fund your account within 120 days of opening it, to receive Death and Total and Permanent Disablement cover automatically.

Bring together your super

Don't pay multiple sets of fees with multiple accounts – we’ll help combine your super into one Essential Super account.

Choose from one of three ways to bring your super together:

1.     Super Concierge

Call the free Super Concierge service on 13 4074 from 8am to 7pm, Monday to Friday (EST) and let the Concierge team do the work for you over the phone. All you need is your TFN.

2.     SuperMatch

Provide your Tax File Number (TFN) and with your consent the Super Concierge will run a complimentary SuperMatch search for any other super accounts you may have. Then, within 3 months of opening an account, you’ll be notified if any other super accounts are found, and you’ll receive help consolidating!

3.     Super Sorter

Bring your super together with the Super Sorter tool in NetBank. It’s fast, paperless and easy – all you need is your TFN and a NetBank account. Once you’re in NetBank, go to My home > Essential Super > Find and consolidate super.

Not registered for NetBank? Register online and then apply.

Important things to consider
Remember before you make a decision, you should compare the costs, fees, risks and benefits of your other super funds against Essential Super. It makes sense to consider whether you can replace any insurance cover you may lose upon rolling over, potential costs for withdrawing from other super funds as well as any investment or tax implications. You should also decide which super fund you want your employer to pay your future employer contributions to and complete a Super Choice form if necessary.

Choose where your super gets paid

You don’t change bank accounts every time you change jobs, so why change your super?

Know that wherever your career takes you, Essential Super can go with you.

Simply download and print a pre-filled form to give to your new employer, or send it straight to them from NetBank.

It’s as easy as 1-2-3:

  1. Log on to NetBank
  2. Go to My home > Essential Super > My Account
  3. Email a completed Super Choice form directly to your employer.

Or, if you prefer, use our online tool to create a Super Choice form you can easily email to your employer.

Not registered for NetBank? Register online and then apply.

Investment options

Control how your super is invested or let the Lifestage option do the work for you - the choice is yours.

Leave it to us
When you open an Essential Super account we’ll place your money into our Lifestage investment option - it automatically adjusts your investment mix because, as you get older, your investment needs change.

  • You don’t have to do anything or make any decisions – we do the hard work for you
  • As you move from one life stage to the next, we tailor your investment mix to suit your life stage. This ensures your money is invested appropriately based on your age and the amount of time until you retire.

Click on Important Documents & Forms to find the investment fact sheets for the Lifestage option.

Choose your own
If you’d like to be more involved you can switch to one of three other investment options once you open an account:


You can change your investment options anytime in NetBank > My home > Essential Super > Future investment selection > Modify the future investment selection details.

If you’re already an Essential Super member and you want to change your investment options or learn more about unit prices and performance, log on to NetBank or call us on 13 40 74.

Insurance to suit your needs

Insurance to suit your needs

Protect your family with death and disability insurance through your super.

If you're an Australian resident, living in Australia and under the age of 60 you’ll automatically receive Death and Total and Permanent Disablement (TPD) cover (provided you fund your account within 120 days of opening it).

Having insurance as part of your super can be:

  • Tax effective - premiums are paid from your super account and not your after-tax income
  • Cost effective - the fund negotiates a wholesale rate with the insurer on your behalf
  • Reassuring - it means you have some financial protection if you’re no longer able to work and your family have financial support if you pass away.

There are no health checks (or paperwork) and cover begins once you've made a contribution to your account (provided you contribute to your account within 120 days of opening it).

You can double, halve or cancel your insurance cover anytime in NetBank > My home > Essential Super > Insurance > Add, change or cancel your insurance.

For further information about insurance refer to the Essential Super Product Disclosure Statement and Reference Guide.

Competitive fees

Our competitive fees can mean you’re better off in the long run — there are no hidden charges, which means no surprises.

With Essential Super’s Lifestage option, there are no switching or exit fees and you’ll only pay:

  • A $5 (net) monthly fee
  • A 0.8% pa combined investment and administration fee
  • 0.15% per transaction.

For further information about fees refer to the Essential Super Product Disclosure Statement and Reference Guide.

Essential Reading from the Blog

Did you know that your employer must contribute to your super, but at the end of the day you are responsible for it.

Learn more

Consolidating your super isn’t hard. It’s surprisingly simple and all you need is your tax file number.

Learn more

Choosing the right superfund for you goes beyond investment performance. Debunk the myth, and choose the superfund that best fits your needs.

Learn more

Things to know before you Can

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.