Standard Life has confirmed it is to cut 139 jobs from across its business.
The firm said big regulatory changes - including auto-enrolment and the Retail Distribution Review - would change the way customers, advisers and employers engage with providers.
Standard Life said the job cuts would come from within its UK IT and change, customer and marketing, adviser and investments and workplace divisions.
It said it was focused on growing its business in key markets but that growth must be "supported by a flexible operating model to ensure continued success in the years ahead".
Paul Matthews, chief executive, UK and Europe said: "A lot of great progress has been made getting Standard Life ready for the Retail Distribution Review and pensions reform. These initiatives significantly change the way customers engage with us.
"Our current model and structure has to change to meet the changing demands of this new world where customers will want to interact in different ways for different products. The changes being proposed today fundamentally change how we're organised so that our customers can have a greater experience with Standard Life."
The insurer restructured its top tier management in June. Nathan Parnaby was made chief executive of Standard Life Asia and Emerging Markets and Sandy Begbie became group operations officer.
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