Effective clearing of vector memory

Well I am creating a vector like this

vector<Member*> emp;

Then I am creating heap objects of the member class like this

Member* memObj = new Member();

Then using push_back like this

emp.push_back(memObj);

Well after using all my functions do I have to clear the memory by iterating like this ?

for( vector<Member*>::iterator iter = emp.begin();
                iter != emp.end(); )
{
    Member* mem = *iter;
    iter = emp.erase (iter); 
    delete mem;
    iter++;
}

Is there any effective way other than iterating through each value? clear function calls the destructor only and it clears the values but does not free the memory..I wish to achieve polymorphism here...I am new in C++ ....please help..Thanks in advance.. :) I am not using C++11