HSBC has shut down its adviser-facing workplace retirement savings arm, which was launched in 2010, as part of a restructure of its wealth management division.
HSBC could not provide exact numbers for any redundancies being made following the closure.
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The latest wealth management unit restructure, which was announced in April 2013, has resulted in a net loss of over 1,100 roles so far but has also increased the number of face-to-face advisers by around 300.
A spokesperson for HSBC said: "Following a review of the business we have made the decision to no longer distribute our service through external IFAs. However it is our intention to continue to offer our commercial banking clients a workplace pension proposition."
HSBC had announced in April 2012 that it would cut about 2,200 staff, a quarter of which would be made jobless as a direct result of the retail distribution review.
Prior to that, in June 2011, HSBC had reported it would cull 460 jobs from its wealth management division due to the impact of the RDR, as part of plans to axe 700 staff members from across the group.
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