CommBank Essential Super: Performance, features and fees
CommBank's Lifestage investment option is a MySuper product that invests your super in line with your age. This product is closed to new members, but existing members can still manage your account online.
CommBank Essential Super is currently closed to new members, so if you don't yet have an account you're unable to join the fund. However, if you're already a member of CommBank Essential Super you can still keep your existing account and manage it online, and you can switch investment options at any time.
CommBank Essential Super options
Key things to know about CommBank Essential Super
- MySuper product. The default Lifestage option is a registered MySuper product.
- Lifestage investment option. The Lifestage investment option does all the work for you, investing your balance in a mix of assets appropriate for your age.
- Four ways to invest. Members can choose from four different ways to invest their super balance.
- Not accepting new members. This fund isn't accepting new members, only existing members can keep their super unvested with CommBank Essential Super.
CommBank Essential Super investment options
If you didn't make a choice when joining the fund, you would have been placed in the Lifestage option, which is the default MySuper product. This option invests your super in a diversified portfolio that's appropriate for your age and stage of life. The fund managers will adjust your asset allocations each four to five years, so your portfolio moves from higher risk when you're young to more conservative as you approach retirement.
Here's an example:
|Investment option||Risk level||Target asset allocation|
(This is what you'd be invested in if you were born between 1975 to 1979)
The asset allocation will change slightly depending on what year you were born.
What default insurance cover does CommBank Essential Super offer?
All members will receive default Death and Total and Permanent Disablement (TPD) cover when joining. You can choose to opt out of insurance when joining or any time after joining.
How do I join CommBank Essential Super?
CommBank Essential Super isn't available for any new members to join. Existing members can still switch between the different investment options available and adjust their insurance cover.
If you're looking for a new super fund to join, take a look at our super funds comparison instead to see the available funds.
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