Commonwealth Essential Super

Commonwealth Essential Super is a MySuper compliant product that was established in 2013. Founded upon serving members from the Commonwealth Bank, the fund is available to members across a wide range of industries.The fund's default option places members in one of seven lifestage investments, which are based off the decade the member was born. Growth assets held within the investment strategy will automatically decline with age. The 1960s Lifestage option has underperformed the SuperRatings Index over the three years to 30 June 2017. Members who wish to make an investment choice may select from the Balanced, Australian Shares and cash option.Fees for Commonwealth Essential Super are competitive and lower than the industry average across all assessed account balances. A buy-sell spread will be applied; however, no additional fees are charged for switching investments or exiting the fund.Members automatically receive default Death and Total & Permanent Disability insurance cover. The default unit of insurance cover will vary and is dependent on the members age. Members have the choice to halve, double or cancel their unit of insurance cover. Income protection is not available within the fund.Commonwealth Bank members may link their Essential Super account with their bank account and provide a range of convenient services including transactional functionalities, super consolidation tools and communications directly through NetBank.