Civil servants will spend one third of life in retirement; Thousands stuck in property funds as Standard halts exits; Friends to demerge holding in F&C; Standard Life confident about year ahead; Pensioners cost of living increasing four times the official...

Standard Life's UK life and pensions sales plummeted 25% in the final three months of 2008 as the financial crisis gripped the nation.

Capita Hartshead has appointed Louise Harris as head of pensions communications in a bid to expand its business.

NETHERLANDS - Schemes are set to receive a refund of over €500m following a legal challenge against the Dutch tax authorities by the Strathclyde Pension Fund.

GLOBAL - Lyxor Asset Management has reported it ended 2008 with over €5bn (US$6.6bn) of assets under management in its European equity exchange traded fund (ETF) platform.

UK - Defined benefit pension schemes reached an aggregate deficit of £194.5bn (US$277.5bn) in December 2008, figures from the Office for National Statistics reveal.

GLOBAL - Investec Asset Management has enhanced its currency fund range, launching new US dollar and euro share classes to sit alongside the existing pound sterling share class.

The net cost of buyout for pension schemes which remained heavily exposed to equities became 13% more expensive during 2008, latest figures by Paternoster reveal.

GLOBAL - AIG Global Real Estate has put its fund management business for sale - a move that follows a US$85bn loan agreed with the US government in September 2008.

US - AK Steel Holding Corporation has posted a record net loss of US$430.6m in Q4 of 2008 - including a $699.5m non-cash charge related to the company's pension plan.