Help & support
CommBank is working with Colonial First State (CFS) to provide Essential Super for business, a simple super contribution payment service to help you manage your employee super contributions through NetBank. We will be moving this service to a new super contribution payment service provided by SuperChoice Services Pty Limited (SuperChoice) on 15 November 2024.
Set up and manage your employees’ super contributions, all in NetBank.
Can be used as a default fund for your business to easily meet your super obligations.
No fees for your business, and your employees benefit from competitive fees.
Meet the government standard of making streamlined compliant super contributions.
We're working with Colonial First State to provide Essential Super for individuals, a super fund which offers choice in what you invest your money in and allows you to track it in NetBank or the CommBank app.
Show me important documents and information related to Essential Super for business.
Employees can manage their super account in NetBank and the CommBank app, including checking balances anytime and making extra contributions.
Employees can benefit from competitive fees and a dedicated helpline for all their queries.
Eligible employees will receive Death and Total & Permanent Disablement (TPD) cover automatically if they’re under 65, over 25 years of age and have an account balance of at least $6,000. They may change or cancel cover any time.
Employees are defaulted into the MySuper investment option that automatically adjusts based on their age. They can also choose from three other investment options.
Here's some key information you need to know as an employer
1 MySuper accounts offer restrictions on the type of fees that can be charged, simple features so you don’t pay for services you don’t need and a single diversified investment option or a lifecycle investment option.
2 Insurance is subject to certain exclusions. Please refer to the insurance section in the PDS and the Insurance Reference Guide for more information on insurance exclusions.
Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (referred to as Colonial First State, CFS, ‘we’, ‘us’ or ‘our’) is the Trustee of Essential Super ABN 56 601 925 435 and the issuer of interests in Essential Super. Essential Super is distributed by the 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 includes CFS. The Bank holds an interest in the CFS Group through its significant minority interest in HoldCo.
This information is issued by CFS and 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/essentialsuper-documents or call us on 13 4074 for a copy.
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.
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.
