An important personal finance theme this year has been the significant rise in defined benefit pension transfer values.

Falling gilt yields have pushed up the Cash Equivalent Transfer Values (CETVs) offered by trustees in return for giving up a guaranteed annual pension income in retirement.

This BBC News article includes comments from Royal London talks about cash values equivalent to 30 times income. In some cases this year, we have seen transfer values close to twice this level.

Should you take the CETV from your deferred final salary pension in light of these high cash values? There are plenty of good reasons to leave the pension where it is.

What you should always do is seek professional independent financial advice in the first instance, from a suitably qualified and experienced adviser.

By working with a qualified pension transfer specialist, it is possible to understand all of the consequences of accepting a cash transfer value and exercising your pension freedoms.