Only 11%?

Iain Dale has posted about his pension statement from Standard Life for the year perfectly exemplifies the current economic situation. He's lucky, his fund only went down by 11%.

I have more than one Standard Life pension from different jobs a number of years ago. They don't get paid into anymore and haven't been for more than 12 month. They both lost around 40% of thier value in the last year.

It's lucky I'm only 33!