
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.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
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 |
---|---|---|
Lifestage 1975-79 (This is what you'd be invested in if you were born between 1975 to 1979) | High |
|
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.
More guides on Finder
-
Worst Super Funds
Here’s a current list of the worst-performing super funds in Australia and steps for how to switch to a better fund.
-
Kogan Super | Performance, features and fees
Kogan Super offers 5 different investment options that each have low fees and mostly follow an indexed investment approach.
-
New data reveals top 10 super funds this decade
The top-performing super funds over the past decade had an average annual return of 10.2% for members. Is yours on the list?
-
How to spot greenwashing in your super [SPONSORED] Your super fund might not be as environmentally sound as it seems. Here are a few ways to figure out the truth.
-
APRA warning: Don’t stick with an underperforming super fund
If you've received a letter from your super fund telling you it has underperformed, don't ignore it - it could cost you thousands.
-
10 cheapest low-fee super funds this year
A new report reveals the default super funds with the lowest fees, with UniSuper, AustralianSuper and REST among the top 10 cheapest.
-
CommBank Ultimate Awards Credit Card with Qantas Points
With 70,000 bonus Qantas Points on offer and up to 1.2 points per $1 spent, how do the features on this CommBank credit card stack up?
-
“I was losing money”: How Ben escaped a poor performing super fund
After being charged hundreds of dollars in fees and getting poor returns, here's how Ben switched super funds.
-
Lost track of your super? Don’t panic – it’s more common than you think [SPONSORED] Getting your money back isn’t as complicated as you might expect. Here’s how to track down your lost super and what to do next.
-
Worst super funds revealed: Is yours one of them?
Major retail funds including CommBank and Westpac are among the 13 worst-performing super funds named and shamed by the regulator.
Ask an Expert
Hi there. Actually I wanna claim my essential super and I just wanna know my essential super fund number. Can u please help me to find out? Thanks.
Hi Navneet,
Thank you for your comment.
To claim, please contact Commonwealth Bank of Australia for Essential Super or visit the nearest branch.
Regards,
Jhezelyn