# The Occupational Pension Schemes (Transfer Values) Regulations 1996, Paragraph 4

Extent: E+W+S

If the insufficiency conditions are met the trustees may reduce, by a percentage not exceeding the deficiency percentage, any part of the member’s initial cash equivalent that is payable in respect of such an equivalent category of liabilities as are mentioned in paragraph 3(b).

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Source: https://www.legislation.gov.uk/uksi/1996/1847/schedule/1A/paragraph/4 (the official version)
Page: https://openlegislation.uk/occupational-pension-schemes-transfer-values-regulations-1996/schedule-1A/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.