Benefits of Essential Super

  • See and manage your super through NetBank or the CommBank app
  • Competitive fees
  • Explore insurance options available within Essential Super 

Partnership with BlackRock 

As a part of our continued focus on improving the performance of our Lifestage investment option, we are enhancing our approach to managing investments in the Lifestage portfolios through a new partnership with BlackRock.

BlackRock is the largest asset manager in the world with leading portfolio management capabilities and access to market leading investment strategies. BlackRock also provides access to very strong quantitative capabilities to ensure strong portfolio and risk management.

There is no action required from you; if you are invested in the ‘Lifestage’ investment option this will be managed by BlackRock. However, we will continue to set the investment strategy and oversee and manage the implementation of investment decisions. This does not affect your ability to see and manage your super through NetBank or the CommBank app.

Get your super on track

Login to NetBank or the CommBank app to:

1. Keep your details up to date

  • Provide us with your Tax File Number (TFN) to avoid paying a higher rate of tax.
  • Update your personal details so we can communicate any important information.

2. Grow your balance

  • Review your investment options, and change them to suit your needs.

3. Manage your insurance

  • Review your insurance options, make changes or take out new cover.

A guide to your Super

Your financial wellbeing is our highest priority. We’ve put together some information to help you understand your super and get your retirement savings on the right track. 

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Find your super

Bring it all together

Once your account is opened, you can search for any other super you may have through the MyGov website and bring your super together1.  This can help you avoid paying multiple fees and make it easier for you to track.

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Important documents and forms

Important documents and information related to Essential Super.

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How it works

Investments that suit your age

When you join Essential Super, you will automatically invest into the ‘Lifestage’ investment option. We’ll do all the hard work for you and automatically adjust your investment mix as you get older. This helps ensure your money is invested appropriately based on your age and how long you have until you retire.

If you’d like to, you can also choose from our three other investment options:

Each investment option is made up of a variety of individual investments, known as holdings. For example, a holding can refer to shares in a company, property, or bonds. View the specific holdings for each investment option here

What you'll pay

Essential Super is a MySuper product with competitive fees. If your super is invested in the Essential Super ‘Lifestage’ investment option, you’ll pay: 

  • Monthly fee : $5.882
  • Combined investment and administration fee: 0.70% p.a.
  • Buy / sell spread : 0.10% per transaction
  • Estimated indirect cost ratio: 0.09 – 0.15% p.a.

Compare the costs

To help you with comparing fees and costs we have a few examples.

  • If $50,000 of your super is invested in a ‘Lifestage’ option, for that year you will be charged fees between $465.56 and $495.56 depending on the Lifestage option you’re invested in3
  • If $10,000 of your super is invested in a Lifestage option, for that year, you will be charged fees between $149.56 and $155.56 depending on the Lifestage option you’re invested in3

The fees you pay will vary depending on the amount you have invested and on your investment option.3

Find out more in our Product Disclosure Statement (PDS) and Reference Guide.


Insurance in Super

Insurance is available with your account

When you open an Essential Super account, you may be automatically provided with Death and Total and Permanent Disablement (TPD) insurance cover4 (subject to meeting certain conditions). 

Insurance can help financially protect you and your family if something unexpected happens in your life. 

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Manage your insurance

As life changes, so can the level of insurance protection you need. We’ve made it simple for you to increase (subject to insurer acceptance), reduce or cancel your cover at any time.

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Make a claim

When you need to make a claim we understand you may be going through a difficult time.  We are here to ensure all genuine claims are assessed and paid as soon as possible.

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Changes to super law to protect your balance

There are laws to help ensure super accounts aren’t eroded by unnecessary fees and insurance premiums. This means you will not automatically receive insurance if you are under the age of 25 or have a balance of less than $6,000. Your insurance may also be cancelled if your account is inactive. There are options for you to maintain insurance cover on inactive accounts or obtain insurance in super if you are not automatically eligible to receive cover.

Find out more

Essential Super for Business

Essential Super is currently unavailable for new business customers.

If you already have Essential Super for your business, you can continue to add new employees and manage your arrangement through NetBank.

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Super tips

Super tips for your 20s

It's never too early to think about the lifestyle you want when you retire.

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Super tips for your 30s

You can now use your super to help save more with the Australian government’s First Home Super Saver Scheme.

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Super tips for your 40s

Superannuation isn't something you set and forget. It pays to review and adjust it as you go through life.

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Accessing your super

Find out at what age you can access your super.

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Leaving Australia?

Find out what happens to your super when you leave Australia.

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Early access to your Super

Accessing your super before you retire is only allowed in very limited circumstances such as:

Things you should know

1 Before you make a decision on consolidating your super, 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.

2 The amount deducted from your account will be $5 each month, as we give you the benefit of the tax deduction.

3 Additional fees may apply. And, if you leave the superannuation entity, you may be charged a buy/sell spread which also applies whenever you make a contribution, exit, rollover or investment switch. The buy/sell spread for exiting is 0.10% (this will equal $50 for every $50,000 you withdraw). Insurance costs will also apply. Refer to our PDS and Reference Guide to find out more. 

You need to be an Australian resident, living in Australia, aged 25 or older, but under the age of 60 with a balance of $6,000 or more, to receive Death and Total and Permanent Disability (TPD) cover automatically. Please see the PDS and Reference Guide for specific terms that apply to insurance cover in Essential Super, including what’s not covered. For example, for the first five years of your cover, a benefit won’t be paid if it is due to a pre-existing condition. Generally, a pre-existing condition is an illness or injury that you were aware of at any time in the 3 years immediately before the date your insurance cover commences, recommences or increases. The pre-existing condition exclusion won’t apply after the fifth anniversary of your cover if at any time after that anniversary you are capable of working in your usual occupation for two consecutive months. Additional exclusions apply.

Important Information: Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) is the issuer of interests in Commonwealth Essential Super ABN 56 601 925 435 (Essential Super) and is a wholly owned but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124 (the Bank). The content on this page is issued by CFSIL and may include general financial product advice but does not consider your individual objectives, financial circumstances or needs. The Target Market Determinations (TMD) for our financial products can be found at and include a description of who the financial product is appropriate for, and any conditions on how products 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 an investment decision. Download the PDS and Reference Guide or call us on 13 4074 for a copy. 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 and is subject to investment risk, including loss of income and capital invested. Where we mention `we’, `us’ or `our’, we mean CFSIL.

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. The insurance cover is provided under policies issued to the Trustee.