# The Occupational Pension Schemes (Transfer Values) Regulations 1996, Paragraph 15


The trustees may reduce an initial cash equivalent to reflect any reasonable administration costs were the member to leave the scheme and must offset against these costs any reasonable administrative savings.

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Source: https://www.legislation.gov.uk/uksi/1996/1847/schedule/1A/paragraph/15 (the official version)
Page: https://openlegislation.uk/occupational-pension-schemes-transfer-values-regulations-1996/schedule-1A/paragraph-15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.