Robinson adds: “If you are fortunate enough to be a DB scheme member, you have nothing to fear from a buyout, in fact, the opposite, it should provide long-term certainty.”

Rachael Healey, a partner at law firm Reynolds Porter Chamberlain, says DB schemes were heavily dependent on the financial position of the employer to fund benefits.  

“If there is a bulk transfer of a scheme, it removes the employer from the equation, so the ability to pay benefits is no longer reliant on the solvency/financial position of the employer.”

Samantha Downes is a freelance journalist