Transfer values increased by 3 per cent in August, rising from £230,000 at the start of the month to £237,000 at the end.
According to the Xafinity Transfer Value Index the difference between the maximum and minimum readings over the month was £9,000, or around 3.6 per cent.
In June, transfer values decreased by 3.7 per cent, falling to £232,000 at the end of the month. During July transfer values dropped again to £230,000.
Xafinity attributes the rebound in values to a drop in gilt yields.
Xafinity defined benefit growth head Sankar Mahalingham says: “We have seen a steady increase in transfer values over August 2017. Reductions in gilt yields have been the main driver, with inflation remaining relatively stable.”
The index tracks the transfer value that would be given by an example DB scheme to a member aged 64 who is currently entitled to a pension of £10,000 each year starting at age 65 and increasing each year in line with inflation.