Commonwealth Essential Super - MySuperInformation shown is for the balanced option.
What the Researchers Say:
A "good value for money" superannuation fund that is strong in nearly all assessment areas but with average features and/or performance in one or more of our assessment criteria.
You should contact your financial adviser or this fund before making an investment decision.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Administration Fee ($)||$71|
|Administration Fee (%)||0.40%|
|Account Size Discount||No|
|Employer Size Discount||No|
|Financial Planning Service|
|Non-lapsing Binding Nominations|
|Insurance Life Event Increases|
|Long Term Income Protection|
About this Fund
|Target Market||Commonwealth Bank customers|
|Offered to Public?||Yes|
|Fund Type||Master Trust-MySuper|
Fund Highlights - provided by Commonwealth Essential Super - MySuper
Investment Option Performance
|Asset Allocation Category||FYTD||FY 2015||FY 2014||FY 2013||FY 2012||FY 2011||Comparison|
- Outperformed average
- Underperformed average
- Negative returns
Annualised figures are the average per year returns of the rated option based on the cumulative returns for the past 5 years to 30/06/2015, past performance is not a reliable indicator of future performance. Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.
Benchmark investment information - how performance is measured
To ensure comparability for consumers, the RateCity superannuation comparison is based on the asset allocation of each of the MySuper/Pension products, irrespective of the name of the investment option. This methodology allows consumers to compare products on a like for like basis and removes any ambiguities associated with the name of the investment option. For example, an investment option may be classified as growth, however its asset allocation may in fact mean it should be classified as high growth. By using the asset allocation as the dominant identifier, we believe this provides the most robust framework for consumers to compare funds and recognise that this is a consistent approach to that of SuperRatings methodology.
Percentage of Growth Assets
What the researchers say
Launched in July 2013, Commonwealth Bank Essential Super is a MySuper authorised, easy to use super solution that leverages the investment expertise of the wealth management arm of the bank, Colonial First State. Offered through the bank's online platform NetBank, Essential Super gives members the ability to view their super alongside their traditional transaction accounts.
The Fund offers a mix of lifestage options that are tailored to suit the investment needs and risk profiles of investors based on their age. Choice members are also able to build their own investment portfolio by selecting from Balanced, Australian Shares and Cash options. Performance of the 1960s Lifestage option has been below the relevant SuperRatings Index over the year to 30 June 2015. The investment allocation of the 1960s Lifestage fund is shown in the chart below.
The fee structure is competitive across all account balances assessed, with no fees incurred when establishing or terminating an account. Buy/sell spreads do however form part of the fee structure.
Eligible members automatically receive Death and Total & Permanent Disability (TPD) insurance upon joining. Insurance cover varies depending on member age and has the flexibility to be doubled, halved or removed at any time.
A range of member services are available including online access and transaction functionalities, tools for super consolidation and communications directly through NetBank. Having a super balance visible in Netbank means members can easily track the development of their super as contributions are added.