1 photo
Commonwealth Bank Essential Super

Commonwealth Bank Essential Super

2.6 from 15 reviews · View Statistics
See the Best Retail Superannuation Funds in 2021 as rated by Australians on ProductReview.com.au.
Brand Manager for Commonwealth Bank? Register now and take advantage of ProductReview's Brand Management Platform!

Reviews

2.6
15 reviews
  • Transparency
    1.5 (6)
  • Customer Service
    1.7 (7)
  • Rates and Fees
    2.1 (7)
Previous
Next
Jennifer
JenniferSydney, NSW

CBA OSF balanced fund advised by government as sub performing fund and recommend moving.

published

Today. I and all CBA OSF balanced fund members received a letter advising they were one of 13 funds identified by the government as below acceptable performance even though they had been given ample warning. Significant investment in amp, commercial property. I can imagine the men in these positions are the most highly paid in the super business and aren't invested in their own fund. They should be removed.

Transparency
1/5
Customer Service
1/5
Zan R.
Zan R.Greater Melbourne (Inner), VIC

Long time with them - 50% Increase on LIfe Insurrance after COVID

published
Transparency
2/5
Customer Service
4/5
Jose Carrillo
Jose CarrilloSouth East Queensland, QLD
  • 12 reviews
  • 7 likes

They lost almost 30% of my funds with the Covid 19 pandemic

published

Everyone could see what was about to happen. I even switched my investment option to cash, however, it took 4 days for these clowns to make the switch. I guessed they were sleeping while the whole economy was falling apart.
In those 4 days, I lost about 600 dollars. Most super funds were losing 10% or 15%, but this one was losing 30%. To summarize, they have no idea about what they are doing, just incompetency at its highest level. After seeing my losses, I made an inquiry asking for the list of stocks where the funds were invested, they did not share it.
Fortunately for me, I only have 13000 AUD atm of the pandemic, I pity the ones that have all their life savings in this circus.

Transparency
1/5
Customer Service
1/5
Nick
NickSouth East Queensland, QLD
  • 2 reviews
  • 1 like

Just useless

published

Absolutely terrible communication, been trying to change my super from personal non concessional to employer concessional and has been the biggest nightmare waiting weeks for them to not do what they did they would do. just contacting them is difficult and to end up talking to someone who is clueless about what I’m requesting which was already processed. What seems like a simple thing to change has been jumping thru hoops having to prompt them to send out confirmation time and time again

Customer Service
1/5
Insurance Options
2/5
Retail Superannuation Funds

Find out how Commonwealth Bank Essential Super compares to other Retail Superannuation Funds

Know better, choose better.

Compare all
Timothy C.
Timothy C.
  • 2 reviews
  • 1 like

How are they capable of losing so much?!

published

Over the past 6 months (to June 2020) Commonwealth Bank Essential Super has lost more than 10% of my super amount. Additionally, in the 12 month period before this they lost 2.5% in what should have been a moderately stable market. I have placed the majority of my funds in more conservative areas too.
Don't invest your future with them.

Transparency
3/5
Customer Service
3/5
John O.
John O.Wheatbelt, WA
  • 5 reviews
  • 8 likes

So good You may as well place all your savings on Red and see what Happens

published
Transparency
1/5
Customer Service
1/5
Narinder
NarinderGreater Melbourne (Inner), VIC
  • 3 reviews
  • 1 like

Lost money

published

Iaround actually lost around $ 15600 with Esssential super in two months. I called them and they said they have invested my moniey in share market which went down. I am still loosing money every day from my super account. I dont where to seek help

Transparency
1/5
Customer Service
1/5

Related Articles

Previous
Super Funds Awards 2020!

A good super fund can make a substanial difference to the amount you retire with. From retail super funds to self managed super funds, view reviewer ratings for the top-rated super funds of 2020!

Wendy Z.
Wendy Z.7 Nov 2019
super-funds-awards-2020
Credit Card Awards 2020

Whether it's the sign up bonus, rates and fees, or reliable customer service that you look for in a credit card, a credit card is often used everyday, so it's important you choose one that meets your needs and that you're happy with. These are the top-rated credit cards this year, as decided by ProductReview.com.au reviewers.

Wendy Z.
Wendy Z.19 Nov 2019
credit-card-awards-2020
What Is Peer-To-Peer Lending?

Peer-to-peer lending is quickly gaining popularity among Australian borrowers and investors. If you've never heard of it before, this 2 minute read will give you a quick rundown so you can decide if P2P lending is right for you.

Nathan S.
Nathan S.14 Nov 2019
what-is-peer-to-peer-lending
Next
Trav
TravMelbourne
  • 4 reviews
  • 1 like
  • Verified

Very good so far!

published

After being with two separate industry funds for many years I decided to consolidate my Super and open a Commbank Essential Super account. The main reason I chose CommBank was the convenience of having my Super and everyday banking in one place. The process of consolidating was very easy.
I had been told I would not get as good returns with CommBank as my previous funds but so far that is not the case.
Highly recommend, especially for current Commonwealth banking customers for the pure convenience.

Biggest nightmare and won’t accept responsibility for their own mistakes.

published
Retail Superannuation Funds

Find out how Commonwealth Bank Essential Super compares to other Retail Superannuation Funds

Know better, choose better.

Compare all

Questions & Answers

T.malaki
T.malakiasked

How can i contacts you guys

No answers
Geetha
Geethaasked

Hi iam with CBA group super fund. Is life insurance automatically included in my super. Thanks

1 answer
John O.
John O.

From memory It isn't and the fees are ridiculous for what would be considered a very limited cover (400k is the maximum I think for essential super). Your better off paying for an alternative provider to cover your life insurance. I would suggest shopping around and finding another provider that offers TPD/Death cover as well as income protection.

Darren R.
Darren R.asked

I would like to talk to someone about transferring my super from rest to your fund

No answers

Get an answer from our members

Other Retail Superannuation Funds

Previous
Next
See all Retail Superannuation Funds

ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.