By Louise Butcher

The Military Superannuation Benefits Scheme has turned around its performance, outperforming most other Australian superannuation funds over the past year.

This is great news for members who two years ago saw MSBS returns plummet after the stock market dropped rapidly, resulting in a loss of around 8 per cent, their worst loss in the scheme’s 13-year history.

Board member and trustee, AIRCDRE Lee Roberts, said a formal investment committee had been established with support from professional investment advisers well known in the industry.

The new committee provided strategic investment advice and new ideas to the board.

Recognising the uncertainties in investment markets in recent years, MSBS is using the expertise of the investment committee to look at other investments that might reduce reliance on stock market returns and further reduce risk and maximise returns.

Possible examples include toll roads, airports and port facilities. AIRCDRE Roberts said that despite the downturn in 2002 and much of 2003, sticking to the fund’s high growth investment strategy had allowed MSBS to rebound so successfully as markets recovered.

Since July 1, 2003, the fund had already achieved a return of about 13.9 percent for its growth strategy and an impressive 15.7 per cent in the high growth strategy.

AIRCDRE Roberts said that because military members were generally younger people with many years to go before accessing their retirement income, their money sat in the fund longer than many other funds.

Investment effects were also cushioned by the highly valuable guaranteed unfunded employer benefit based on years of service

. Because of these factors, MSBS focused on a long-term investment strategy.

“The newly formed investment committee meets monthly and advises the board on new investment opportunities,” he said.

“It replaces a system using a primary adviser supported by the use of second opinions. We now have a greater variety of expert opinions available to assist us making decisions.

“You won’t see the results of that advice for another year though,” AIRCDRE Roberts said.

When asked what he felt was the most important thing about the scheme that members should know, AIRCDRE Roberts said there were two considerations: that it used a long-term investment strategy, and that the scheme was unique in its structure.

“This scheme is a hybrid scheme with two components.

“Our pay contributions are invested in the fund and subject to the fluctuating fortunes of investment markets.

The second component … and probably most valuable … is the unfunded employer benefit which is unaffected by fluctuations in investment returns, so you get the best of both worlds.

“Most modern schemes these days are purely accumulation schemes so all of your money goes up and down with the investment cycle,” he said.

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Warfare course open to all

Electronic Warfare course students pose for a photo after looking over the DSTO Sensor Trials Facility at Edinburgh.

The field of Electronic Warfare (EW) is one of the fastest growing and changing technology areas of the ADF.

The introduction of new airborne platforms into the ADF such as AEW&C, Battlefield Helicopter and Seasprite will see the reliance of EW based tactics and technology reach a new level.

In order to maximise the effectiveness of the ADF’s EW assets, it is vital that aircrew are appropriately trained in EW theory and its operational use.

To meet this need, the Joint Electronic Warfare Operational Support Unit (JEWOSU) located at RAAF Edinburgh conducts a fourweek tri-service EW course several times a year.

While the course is aimed at aircrew, other categories of personnel are welcome to apply.

The course regularly has students of the engineering, intelligence and air defence categories. The mix of students from different services, backgrounds and categories ensures a wide variety of innovative ideas are discussed throughout the course.

The four-week course is made up of about 60 per cent lecture phase where EW theory, the operation of in-service EW equipment, threat systems as well as future EW systems and projects, are taught.

This provides a good grounding for the understanding of the operational aspects of EW. Approximately 30 per cent of the course is dedicated to syndicate exercises where students research and present on EW systems or operational EW scenarios.

This phase is specifically used to give an operational focus to the theory the students have learnt. Students will gain a good level of knowledge on the EW equipment fitted to their platforms and the operational considerations for its use.

The remaining 10 per cent of the course is used to visit local units such as 92WG, 16AD and the Defence Science and Technology Organisation to see in-service and future EW systems in action.

JEWOSU also runs a two to three-day short EW course that is presented at units Australiawide. The purpose of the short course is to provide generic EW and systems knowledge for a group of personnel who don’t need or don’t have the time for the four-week course.

Further details on the content of the EW course are available online at
http://ednww002/jewosu/(under JEWOSU overview) or by contacting WOFF McAndie on 08 8393 4714.

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Past students find their way back to nest

By LCDR Mick Gallagher

A ceremony at Quakers Hill in Sydney’s west marked the tenth anniversary of the closing of the Navy Apprentice Training Establishment, HMAS Nirimba.

Nirimba is an aboriginal word meaning “nesting place of the pelican”.

Attended by many past naval apprentices, trainees and staff members, the ceremony reinforced the significant contribution that was made to the fleet by those apprentices who served in Nirimba between 1956 and its closure in 1994.

“Nirimba turned out more than 13,000 qualified tradesmen affectionately known as MOBIs and MUPPETs, who were drafted to the Fleet after their training,” said former CPO(P) Bob Parish, president of the Nirimba Sub Section of the Naval Association of Australia.

Today Nirimba still has the name on the main gate and is still a place of learning as an education precinct consisting of the University of Western Sydney, TAFE and two smaller colleges.

In attendance was former PONS4 (Shipwright) Vince Fazio, who gave a brief history of Nirimba. The first Shipwright instructor, Mr George Bray, also attended the ceremony.

CPOMUSN Robert Wright with the NSW Detachment RAN Band provided the music for the ceremony while Naval Chaplain John Powell conducted the prayers.

Cadets from TS Sirius (OIC LEUT Heather Pitt) attended and also provided the catafalque party under the supervision of WONPC Des Harper AM.

The catafalque guard commander, LS Cadet Dean Anderson, 17, intends to join ADFA in January 2005.

His grandfather, former WOMTH Leon “Dusty” Durston, was there to see him parade. Wing Commander Geoff Cottee Rtd spoke of the close ties with the RAAF and the RAN, especially during the pre RANATE days when the area was used as an airfield by the RAAF and the RN (HMS Nabthorpe then HMS Nabstock) during World War II.

Publications of Skilled Hands at Sea and Flight of the Pelican were presented to Dr Alan Laughlin, Deputy Director-General of NSW Education and Training, and Ian Wing representing the Board of the Nirimba Precinct.

Both books are available from the Naval Historical Society through www.drawquick.com.au.

Inquiries to Jim Reilly on (02) 9626 7738 or president Bob Parish on 9622 9406.

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