Tips to boost your super savings and retire in comfort

Essential Super can help grow your retirement savings, with a range of features to maximise your finances and benefit your investment in the future.

Superannuation isn’t just about retirement, it’s about making smart financial moves that could benefit you now and later. From the magic of compound returns, to possible tax benefits and investment growth, discover how Essential Super, accessed and managed via the CommBank app, could provide immediate advantages and long-term financial security.

1. Investment growth

Now: Colonial First State’s Essential Super growth option (MySuper Lifestage 1975-79) was named best performing MySuper Lifecycle option by SuperRatings¹ for FY24 and delivered a 14.4 per cent return for members, compared with a median growth fund return of 11.1 per cent.

Future: Your super investments are designed to grow over the long term to help provide financial freedom and security in retirement.

2. CFS works for you

Now: CFS has partnered with BlackRock, one of the world’s largest asset managers, to manage Essential Super’s Lifestage options, which automatically changes your exposure to investment risk in-line with your age.

Future: As your financial situation changes, your investments will be adjusted, to take into account changing investment needs as you age.

3. Access to insurance

Now: We all want peace of mind that we’re protected should the unexpected occur. The costs (premiums) for insurance in your super are deducted from your Essential Super balance. Plus, if eligible, you can change your level of cover at any time.

Future: Having insurance means that you and your family may be protected in the event of serious illness or death.

4. All your super in one place

Now: By consolidating all of your super into the one account², you may not only save on paying multiple fees, managing your super could also be easier.

Future: By avoiding multiple fees on your super, you may end up with more funds in your account at retirement.

5. Tax benefits³

Now: Depending on your circumstances, super could be tax effective. For instance, additional contributions made through salary sacrifice may be able to lower your taxable income and could lead to tax savings.

Future: Over time, these tax savings could really add up.

Easy to join.

You can quickly open an account via the CommBank app – just search for “Essential Super”.

Stay connected.

Your super sits next to everyday banking in the CommBank app, making progress easy to monitor.

Play an active role.

With Essential Super, you can be as “hands on” as you want to be. Leave it to us or choose from a range of investment options.

Start growing your retirement savings today with Essential Super

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Things you should know

¹Source: SuperRatings Fund Crediting Rate (FCRS) Survey 30 June 2024 and CFS Performance data. Whilst care has been taken to ensure that the data provided by SuperRatings is correct, CFS neither warrants, represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. The SuperRatings Fund Crediting Rate Survey is based on information provided to SuperRatings by third parties, that is believed to be accurate at the time of publication. Returns will change in the future which may affect the outcome of the comparison. SuperRatings may make adjustments for comparison purposes and therefore data may vary from other published materials. Net returns for CFS products are after deduction of investment fees, costs, tax and asset based (%) administration fee. Returns displayed may vary based on inclusion or exclusion of asset-based (%) administration fee. ^²The information provided does not take your personal objectives, financial or taxation situation or other needs into account. If you need advice on your personal circumstances, please talk to a financial adviser. Before you make a decision to consolidate 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.

³Taxation considerations are general and based on present taxation laws and may be subject to change. You should seek independent, professional tax advice before making any decision based on this information. Commonwealth Bank of Australia is also not a registered tax (financial) adviser under the Tax Agent Services Act 2009 (Cth) and you should seek tax advice from a registered tax agent or a registered tax (financial) adviser if you intend to rely on this information to satisfy the liabilities or obligations or claim entitlements that arise, or could arise, under a taxation law.

Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (referred to as Colonial First State or CFS) is the Trustee of Commonwealth Essential Super ABN 56 601 925 435 and the issuer of interests in Essential Super. Essential Super is distributed by Commonwealth Bank of Australia ABN 48 123 123 124, AFSL 234945 (the Bank). The CFS Group consists of Superannuation and Investments HoldCo Pty Limited ABN 64 644 660 882 (HoldCo) and its subsidiaries, which include CFS. The Bank holds an interest in the CFS Group through its significant minority interest in HoldCo. This information is issued by the Bank based upon information provided to it by CFS. This information 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. The Target Market Determination (TMD) for Essential Super can be found at cfs.com.au/tmd and includes a description of who the financial product is appropriate for and any conditions on how the product can be distributed to customers. You should read the Product Disclosure Statement (PDS) and the Reference Guides for Essential Super carefully and consider whether the information is appropriate for you before making any decision regarding this product. Download the PDS and Reference Guides at commbank.com.au/super-retiring/essential-super/important-documents-and-forms or call Colonial First State on 13 4074 for a copy. If you need advice on your personal circumstances, please talk to a financial adviser. None of the Bank, HoldCo, CFS, nor any of their respective subsidiaries guarantee the performance of Essential Super or the repayment of capital by Essential Super. An investment in this product is subject to risk, loss of income and capital invested. 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. Where we mention ‘we’, ‘us’ or ‘our’, we mean the Bank. 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 or CFS. Insurance cover is provided to eligible members of Essential Super under policies issued to CFS.