Help & support
The superannuation landscape has changed with more contemporary super products typically offering a wider mix of investments options, tailored insurance options and online functionality, and accordingly we have decided to close SSA.
As a result of this decision, we intend to close SSA on 31 July 2026.
Your super account balance will be transferred according to your instructions. If we don’t receive instructions from you by close of business (5pm Sydney time) 30 June 2026, in most cases, your account will be transferred to the Australian Taxation Office (ATO).
Depending on the circumstances, you may:
1. Transfer to another superannuation provider or retirement savings account– While we can't provide personal financial advice, we encourage you to explore products that best suit your needs. You might find value in newer products with additional features, investment options and tailored insurance cover. To compare super funds, consider using government resources like the ATO's YourSuper comparison tool or consult with a licensed financial adviser.
We also have an article about choosing a super fund as well as articles by moneysmart and the ATO.
2. Transfer to a nominated bank account – If you’re eligible and meet a condition of release, you can apply to access your funds and make a lump sum withdrawal. The option you choose may affect your financial circumstances, tax position and entitlement to government concessions and benefits. If you are unsure how this may affect you, you should speak to a tax or a financial adviser before accessing your super.
More information about eligibility and conditions of release is available on the ATO website here.
If no action is taken, we intend to transfer your SSA account to the ATO on 31 July 2026. We encourage you to act before 30 June 2026 to allow for sufficient processing time and ensure your funds are transferred according to your preference.
Moneys transferred to the ATO receive interest at a CPI-based interest rate. However, the ATO cannot accept further contributions or provide any insurance cover. The ATO does attempt to reunite members with other super funds you may hold by data-matching. However, a transfer to the ATO is not a retirement or superannuation option. We encourage you to consider options which best suit your needs and take appropriate advice as required.
After 31 July 2026, you can find your super at my.gov.au.
If your employer contributes to this account, you'll need to provide them with the details of your new account so they can update their payroll systems. To ensure you are paid your superannuation, it's important that a new account is set up. In some instances, if it suits you, your employer can help set up a new 'default' superannuation account on your behalf.
While we can't provide personal financial advice, as mentioned above, we encourage you to explore products that best suit your needs. You might find value in newer products with additional features and options. To compare super funds, consider using government resources like the ATO’s YourSuper comparison tool or consult with a financial adviser.
The government website MoneySmart has a useful guide and we also have an article on how to choose a super fund.
If you currently have a fixed term option in the SSA that matures after 31 July 2026, we will refund any early break costs or fees which otherwise would apply up to the date your account is closed.
The 'early termination fee' is 0.15% if the balance of your fixed term option pro-rated for the duration of the remaining term. When you close your account, this fee will be refunded to you in the form of a credit.
This will depend on your eligibility, as generally superannuation is designed to be only accessible in retirement. To access funds in your account, you must meet a ‘condition of release’ and satisfy certain cashing restrictions. Tax implications vary based on your personal circumstances and the type of account and the ATO provides guidance on this on their website here.
We have provided an example of how tax is calculated in the below scenario under current tax and super rules. You can find your taxable and tax-free components in your last statement as well as the letter we sent. Note: this is an example only and may not apply to your individual circumstances. We strongly suggest that you speak with a financial adviser or tax professional for tailored advice.
Example of a 58-year-old withdrawing $500,000 from their superannuation, with $400,000 taxable and $100,000 tax-free components:
Withdrawal Breakdown
Total Withdrawal: $500,000
Tax-Free Component: $100,000 (no tax)
Taxable Component: $400,000 (assessed)
Tax Treatment (2025–26)
The low-rate cap for 2025–26 is $260,000 – no tax is charged on the first $260,000.
This means the first $260,000 of the taxable component is taxed at 0%.
The remaining $140,000 is taxed at 17%*. ($500,000-$100,000-$260,000 = $140,000)
Tax Payable
Tax on the amount above the low rate cap is $23,800 ($140,000 x 17%* = $23,800).
*Applicable from 1 July 2025 and rate is inclusive of Medicare Levy
CBA does not issue any superannuation funds. However, it does distribute the Essential Super superannuation fund issued by CFS - see:
We are providing this link by way of information only and not as a recommendation or advice. Specifically, we are not recommending this product as appropriate for you. If you are interested in this product, you should read all the disclosure documents and Target Market Determinations referred to at the link and consider whether that product is suitable for you and take appropriate independent advice, which considers your financial circumstances, objectives and needs.
Please note CBA has an indirect minority interest in the trustee of Essential Super – please see the explanation of the relationships between the trustee of Essential Super and CBA and the role of CBA in distributing Essential Super at the end of these FAQs.
You will receive letters and emails from us from 17 November 2025.
If you haven't received anything, please ensure your details are up to date on Netbank.
You can contact us via the CommBank app to start a chat and request a letter version of this email, by typing 'SSA Closure Letter'.
You can also read a copy of the letter here as well as the Significant Event Notice.
Should you wish to speak to someone about your SSA account, please contact the Fund Administrator Resolution Life Australia (RLA) on 13 20 15 between 9 am and 5 pm (AEST/AEDT), Monday to Friday, excluding public holidays.
Please be aware that you may experience long hold times due to the product closure.
If you currently hold insurance cover in the SSA, you will lose this insurance cover once your account balance is transferred to another fund or to the ATO, unless it expires or terminates earlier in accordance with the terms of the cover.
If you are currently claiming insurance through SSA, please contact RLA on 13 20 15 to work through your claim.
Any information provided by CBA may include general financial product advice but does not consider your individual objectives, financial situation, needs or tax circumstances, and so you should consider the appropriateness of the advice having regard to your circumstances before acting on it. You should read the PDS and the Reference Guides for Essential Super or any other product that you may be considering carefully and consider whether the information is appropriate for you before making any decision regarding this product.
Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (Colonial First State or CFS) is the trustee of Essential Super ABN 56 601 925 435 and the issuer of interests in Essential Super. The information regarding Essential Super and the insurance available in Essential Super is general information only and has been prepared without taking account of your objectives, financial situation or needs. Because of that, before acting on such information, you should consider its appropriateness having regard to your objectives, financial situation and needs. You should consider the product disclosure statement and target market determination for Essential Super, available at commbank.com.au/essentialinfo or call CFS on 13 4074 for a copy, before making any decision in relation to Essential Super.
The CFS Group consists of Superannuation and Investments HoldCo Pty Limited ABN 64 644 660 882 (HoldCo) and its subsidiaries, which includes CFS. The CFS Group is majority owned by an affiliate of Kohlberg Kravis Roberts & Co. L.P. (KKR), with the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (CBA) holding an interest in the CFS Group through a significant minority interest in HoldCo. CBA provides distribution and limited administrative services to the Trustee.
The insurance provider for Essential Super is AIA Australia Limited ABN 79 004 837 861, AFSL 230043 (AIA Australia). AIA Australia is not part of the Commonwealth Bank Group or the CFS Group. Insurance cover is provided to eligible members of Essential Super under policies issued to CFS as trustee of Essential Super.
Any financial product advice provided in relation to Essential Super is provided by CFS under its Australian Financial Services Licence, and CFS is solely responsible for any such advice.
Neither CBA nor any of its subsidiaries endorses, guarantees or stands behind CFS, the performance of Essential Super, the repayment of capital by Essential Super or the insurance available in Essential Super. An investment in Essential Super is subject to investment risk, including possible delays in repayment and loss of income or principal invested. CFS is not an authorised deposit-taking institution. An investment in Essential Super is through a superannuation trust and is therefore not an investment in, deposit with or other liability of CBA or its subsidiaries.
CFS pays CBA to provide banking services to all the investment options in Essential Super.
