High material instruction count for translucent material

I am just starting to work with UE4 and currently face the problem that a water material I am working on has a very high instruction count above 350. Translucency and the lighting mode Surface TranslucencyVolume amount to 3/4 of my instructions even when I all my normal map calculations. Is there any way to reduce the instruction count without sacrificing any features (e.g. good reflections)? The shader complexity view shows my PS in the deep reds. I wanted to use SSR too but it furthermore increased my instruction count to above 500 which is really bad.
Here is a picture showing a simplified setup:

This instruction count is normal for the given translucency lighting mode, and there is pretty much nothing you can do about it.