I bent a piece of 3/16" steel rod into the shape shown to push down the piston in the end of my 78 CB750K master cylinder so that tension was released from the circlip so that I could remove it. The trick was to not get in the way of the circlip pliers.
This worked great for me in case you can use the idea.
I'll also use the tool to hold the assembly into the bore when I re-insert the circlip.