This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/uk-wales-south-east-wales-28558869

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
60 Cardiff jobs to go at investment firm Legal & General 60 Cardiff jobs to go at investment firm Legal & General
(35 minutes later)
Sixty jobs are set to go at the Cardiff office of Legal & General.Sixty jobs are set to go at the Cardiff office of Legal & General.
Those at risk work in the annuities department of the insurance and investment firm, and the decision follows Chancellor George Osborne's Budget announcement on pension reforms. Those at risk work in the annuities department of the insurance and investment firm, and the company says its decision follows Chancellor George Osborne's Budget announcement on pension reforms.
The company said it has begun a formal consultation with staff but would be looking to redeploy within Cardiff or other offices. It has begun a formal consultation with staff but would be looking to redeploy within Cardiff or other offices.
It said it was working with unions over the planned cuts.It said it was working with unions over the planned cuts.
A Legal & General spokesperson said: "Post the changes announced in the Budget, annuities will not be the right solution for all retirees, though some will still buy them at the point of retirement or later on in retirement.A Legal & General spokesperson said: "Post the changes announced in the Budget, annuities will not be the right solution for all retirees, though some will still buy them at the point of retirement or later on in retirement.
"Going forward we believe the individual annuity market will shrink by as much as 75% by the end of 2015."Going forward we believe the individual annuity market will shrink by as much as 75% by the end of 2015.
"This is because we expect retirees to take their pension savings in cash, use income drawdown or other existing or new income related products, to provide their retirement income.""This is because we expect retirees to take their pension savings in cash, use income drawdown or other existing or new income related products, to provide their retirement income."