Transfer values have been rising steadily despite significant falls in scheme funding levels, Hargreaves Lansdown says.
The independent financial adviser said one case it reviewed saw an offer to transfer out of a defined benefit scheme increase by 85% between July, last year and January.
The firm says the increase is "almost certainly" due to changes in transfer values regulations last October, revised mortality assumptions following last year's guidance from The Pensions Regulator and low gilt yields.
Pensions analyst Laith Khalaf says: "While it still makes sense for the vast majority of people with final salary benefits from a previous employer to leave them where they are as they do not shoulder any investment risk, for those who want control of their own pension these increased transfer values are as welcome as they are unexpected.
"Whether this is a temporary blip or a sustained trend is yet to be seen."
He says an increased transfer value does not necessarily mean investors are advised to transfer, final salary benefits are often so good that even a substantial rise in the transfer value may not change the recommendation not to transfer.
However, Khalaf added in some cases it can make a difference, and for those members who are intent on transferring out "such substantial increases are a very pleasant surprise given the backdrop of such desperate underfunding."Professional Pensions
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