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In its pension buyouts report which analysed pension buyout transactions in the UK, the actuary found that at least 10 FTSE 100 schemes are considering detailed quotations from insurance companies to buyout some, or all, of their pension scheme liabilities.

At least seven £1bn-plus pension schemes are also thought to be doing the same.

LC&P said this represents a substantial upward shift in the size of schemes considering buyouts.

"We see the first major FTSE 100 pension scheme buyout as inevitable and likely to be imminent," the report stated.

The idea of pension buyouts is becoming increasingly popular as employers look to minimise the risk of final salary pension schemes.

There have been 12 insured buyout transactions in excess of £100m since the start of 2007, including P&O, Emap, Rank and Morgan Crucible.

The UK pension buyout market currently comprises 11 insurance companies actively competing to take on investment and longevity risks from pension schemes in return for a premium.

In 2007 the insured buyout market was dominated by Paternoster which had a market share 50 per cent, followed by Legal & General with a 40 per cent share.

Nine of the 11 insurance companies active in the market entered the area during the past two years.

The market is on target to exceed £10bn of business in 2008, a three-fold increase on 2007, the report said.