Legal and General (L&G) workplace savings managing director Tony Filbin is due to retire and concentrate on his independent roles and governance, a spokesman has confirmed.
Legal & General is in talks with Unite over potential redundancies at from its protection and savings divisions.
Insurers have welcomed the Office of Fair Trading's (OFT) recommendation to introduce independent governance committees for contract schemes.
Legal and General (L&G) will cap its charges on the default fund within workplace pension schemes at 50 basis points (bps) from 9 September.
Legal & General (L&G) has signalled its intention to become a "major player" in delivering low cost passive investment solutions to UK retail clients as the group saw profits rise 13% in the first half of the year.
Legal & General (L&G) yesterday announced it has upped the base salary for its top executives by a fifth to £560,000.
Legal & General (L&G) has promoted one of its senior staff to finance director after the insurer's external candidate was disapproved of by the regulator.