Superannuation assurances sought:
Most members of MSBS would be aware of the significant loss suffered by the fund during the last financial year, with the September 11 terrorist attacks and subsequent worldwide decline on all stock markets.

I can accept that this and the ongoing global unrest is contributing to a “shakier” stock market. However, the MSBS fund along with a few other funds suffered losses nearly double that of other super funds – why?

Are the appropriate strategies in place to minimise the effect for the next financial year?
Judging by the poor unit prices since July 1, 2002, I can only fear that another significant loss is on the way for this financial year as well.

My contributions for last year amounted to over $5000 and the interest return of minus more than $11,000 provided me with a loss of over $6000 on my 2001 member balance.

I and other MSBS members are concerned that when compulsory retirement age arrives (not that long away) we will have significantly less than we planned for.

I believe every MSBS member needs to be alarmed about this poor performance, and also provided with assurances from the Board of Trustees in respect of what is being done to minimise such large financial losses.

• Warrant Officer E.W.J. Hoskin
  Combat Support Unit
  RAAF Base East Sale
  

  Official response:
  As most readers will be aware, superannuation funds have performed poorly in the last 12 months, following strong returns in previous years. In looking at the comparative performance of the Military Superannuation Benefits Scheme (MSBS), it is important to note a couple of points.
  
  First, no two superannuation funds are the same. They vary in scheme design according to the make-up of their membership. As a result, investment strategies vary widely between funds.
  
  MSBS is designed specifically for military members. It has a high employer contribution (18-28 per cent), which is government guaranteed and not affected by investment performance. The scheme has excellent in-built death and disability entitlements, attractive lump sum/pension conversion rates and no administration fees or charges. These features are not available in most other funds.
  
  MSBS is managed by a Board of Trustees made up of a mix of investment experts, employer and employee representatives.
  
  Members’ contributions are invested by the Board through a number of appointed fund managers in investment portfolios, and based on a wide range of professional investment advice. The fund’s investment strategy is continuously reviewed to ensure it is appropriate given prevailing market conditions and we have made numerous changes over the past year, including the appointment of several new fund managers.
  
  Superannuation is a long-term investment. The ADF consists of a young membership, with the majority of members aged below 30.
  
  The Board has determined that a long-term strategy is the most appropriate, so the fund has a high allocation to growth assets like Australian and international shares which should produce better long-term returns, although with more ups and downs along the way. MSBS members have benefited from that strategy with good returns since inception (October 1991).
  There was a very broad range of returns declared by superannuation funds for 2001-02 and straightforward comparison of returns is difficult. With the poor performance of the share markets (-4.5 per cent for Australian shares and -23.5 per cent for international shares), the higher a fund’s allocation to growth assets, the lower the return would have been.
  The benchmark that is the most comparable with the MSBS asset allocation is the group of super funds reported in the Intech Performance Survey of High Growth Superannuation Funds. The 12 months returns for this group at June 30, 2002, ranged from -4.6 per cent to -12.2 per cent.
  
  While the MSBS Fund has suffered the impact of a negative investment environment this past year, the fund has produced strong returns for members since the scheme’s inception, and the Trustees are confident that the fund’s strategy is appropriate to achieve the long-term investment objectives of the fund.
  
  In general, younger members have a very long investment horizon. This means they stand to benefit from the effect of compounding returns over the very long term and should be less concerned by shorter-term ups and downs.
  
  On the other hand, members who are closer to retirement age may often seek greater stability in the value of their investments and have a lower tolerance for investing in risky growth assets.
  
  In response to members’ differing investment needs, the Board has decided to introduce Member Investment Choice on July 1, 2003.
  
  The primary purpose for offering MIC is to allow you to tailor your own investment strategy, having regard to your specific needs, circumstances and tolerances for risk. Circumstances may change over your working life, and MIC allows the adjustment of investments in response.
  
  Details of the Military Super Board’s Investment Strategy are outlined in the Annual Report and also in the Military Super Fund Investment Policy Booklet, copies of which are available from the Military Super web site or by phoning ComSuper’s National Mailing House on (02) 6269 1020.
  
  Military Super members who want further information on the fund’s investment performance, or Member Investment Choice, should download the fact sheet available from the web site www.militarysuper.gov.au, send an enquiry by e-mail to military.members@comsuper.gov.au or call the Military Contact Centre on 13 23 66. Overseas members can telephone 61 2 6272 9000.
  
  Charles Kiefel
  Chairman
  Military Super

United against terrorist threat:
I WOULD like to express my deep sorrow and regret in the light of the severe tragedy affecting citizens of your country caused by the appalling terrorist attack on the island of Bali.

Our thoughts and emotions are with the innocent and their families who feel helpless in the wake of the disastrous explosion.

Actions against international terrorism to secure liberty and safety of our people is one of the most significant missions the international community has to respond to.

We shall not stop on our common way to collectively fight against the threat within our international community.
The women and men of the German Air Force feel with you and the Australian people.

• Lieutenant General Gerhard W. Back
  Chief of Staff
  German Air Force

We need to look after imagery:
Following some recent letters on the topic of Defence imagery, I would like to comment about the thousands of images taken by Defence members outside the photographic mustering which are not being registered or archived in accordance with Defence Instructions (DI(AF)OPS 4-9, Provision of Photo-Imagery Services) and the National Archives Act 1983. Such imagery can be important to the recording of Defence history and it will be lost if not handled correctly.

Also of importance is that some Defence members are breaching the Copyright Act 1968 by using commercial music in programs that are not only seen by other Defence members but also members of the public.

Members should make themselves more aware of such topics along with the rules and restrictions in relation to Base Standing Instructions and the SECMAN 4 on the issue of capturing, handling and archiving imagery.

• Leading Aircraftman Ricky Fuller
  86WG Imagery Section
  RAAF Base Richmond

Speedy resolution:
AS a proud Pom I must take issue with your remarks that Harold Larwood was the last Pom to show any real speed down under (Air Force News, October 10). Since the Bodyline series the England team has had Trueman, Tyson, Gough, Statham, Willis and Snow to name a few!

• Richard Elwell (ex-RAF)
  Preston, Lancashire

Voluntary service deserves medal:
There has been quite a bit of publicity regarding a medal for National Servicemen who served in Vietnam, a very valued and long deserved award.

Perhaps it is a case of the squeaky wheel getting the oil. It is to be remembered that these personnel did only two years service and it was not voluntary.

I put the case forward of all the servicemen and women who were not national servicemen and volunteered for full-time service.

Many did request service in that area but, because they were needed in the job in Australia that they were performing, were not given the opportunity to go to Vietnam. For these servicemen the shortest time to be served was in most cases six years and for some a lot longer was served through their own choice.

For those people their Defence Force Service Medal came after 12 years and in some cases a bar to it at the 20-year mark.

This medal and, where applicable, the bar, can be seen as a token of time served and not as a symbol of preparedness to serve in a theatre of war.

A medal should be produced for permanent servicemen and women who voluntarily enlisted and in fact this is long overdue and I feel that the service medal does not show this.

I am in total support of any efforts to correct this anomaly and I will encourage all my ex-serving friends to pursue any moves to have a medal struck that shows the voluntary side of the equation.

• Ted Washbrook
  Warrant Officer (ret’d)
  Perth, Western Australia
  

Townsville museum receives praise:
I AM a 14-year-old Air Force cadet from 210SQN (Toowoomba) and am touring Australia with my family.
My ambition is to visit all of the Air Force bases around Australia.

I would like to thank Squadron Leader Leroy from RAAF Base Townsville for taking me on a tour of the base.
I recommend a visit to the RAAF Base Townsville museum.

It is a great credit to those who have put it together and a worthy memorial to those who have served in the Air Force.

• Michael West-McInnes
  LCDT
  Queensland

Issue addressed for last time:
Editor’s note: When we published a letter in the September 26 edition critical of a photograph that appeared in Air Force News, accompanied by a reply justifying the decision to run the photograph, we asked for feedback from readers. Owing to the response, we have decided to give the matter one last airing in the following selection of edited letters.

I can understand the value of a good PR shot and its perception when viewed by the general populace, however, as your publication heralds itself as “The official newspaper of the Royal Australian Air Force” and as such presents itself de facto as authoritative on the many aspects of the service, it would, therefore, follow that it has a duty of care to ensure that its contents are presented commensurate with this paradigm.

I suggest that you are wrong if you believe that those of us who read these articles would be naive enough to be swayed from noticing irregularities in photos and articles just because “it’s outweighed by the positive image the photograph and story – taken together – present to members.”

I have to say that I, along with a number of my section, am not only disappointed with your reply, but also find it disrespectful to our profession and service.

In the past I have always attached great credence to whatever I read and saw in Air Force News, this editorial reply has degraded that to the extent that I am no longer able to do this.

Sergeant Mark Freeman
76SQN
RAAF Base Williamtown

WHILE I acknowledge merit in the arguments presented by both parties, Air Force News enters dangerous territory by publicly supporting or defending non-compliance with any order or instruction.

The argument of when it is appropriate to deliberately ignore regulations and the assessment of what constitutes a “minor” infraction is best left to those officers and NCOs who have the responsibility and authority to lawfully enforce compliance with orders and instructions, rather than the editorial staff of the newspaper.

Flying Officer Matt Doyle
No. 2 Flying Training School

REGARDING the letter pointing out that the Sergeant in the photograph is not wearing his ID in the current Safe Base Alert state, it should be realised that it is up to the Base Commander as to whether members should wear their ID around base.

Second, it is a staged photo for a paper that is distributed to the Air Force and civilian population. This would also explain why the Sergeant is not wearing hearing protection on the flight line.

What about the professionalism shown in the handling of the F88 Steyr? This is of much bigger importance than the fact that the member is not wearing his Air Force ID.

The priorities should be praising the factual achievements of a Senior NCO instead of criticising dress and bearing.

Corporal Peta Davies
No. 1 Radar Surveillance Unit
RAAF Base Edinburgh

I agree that Air Force News often publishes photos of Air Force personnel who are incorrectly dressed, that is, not in accordance with the Manual of Dress.

So, why are people dressed incorrectly? Perhaps that is what your next article should be about.

Sergeant Diana Claxton
CPC RIC

THE picture is fine: it shows a fit, well-groomed SNCO which, I think, portrays us positively. I think back to when I joined up 20 years ago, the same picture would have shown an overweight, unfit SNCO holding a beer (apologies to SNCOs from that era).

Flight Sergeant Wayne Jones
SCPO
RAAF Base Pearce

.