The RWTF was established by the Services Trust Funds Act 1947 (the Act). The Act provides that the Trustees shall, subject to and in accordance with the regulations, apply the Fund in providing benefits for members of the Defence Forces who have served in, or in association with, the Royal Australian Air Force and to the dependants of such members.
The objective of the RWTF is to provide financial assistance to serving and ex-serving members of the Air Force and their dependants. This objective is met by providing:
a. Low cost loans to (SERCAT 6 and 7) permanent serving Air Force personnel,
b. Grants to serving and ex-serving personnel who are suffering financial hardship or from the effects of natural disaster,
c. Grants to RAAF Bases for specific projects to support the welfare and amenity available to Air Force personnel and their dependants, and
d. A Group Life Insurance Scheme for (SERCAT 6 and 7) permanent serving Air Force personnel.