Your local utility will have published rules as to when you have to provide reduced voltage starting to limit starting current, but even though the rules will tell you a HP value, it also will depend on the duty cycle. Usually unless the grid in your area is fairly loaded already, they tend to start at the equivalent of around 50HP at 480V, but I have seen as low as 15HP (Seattle City Light was like that when I lived there). But you can also request a variance if you think you deserve it. I did for our shop because we had an overhead crane that had 20HP motors on it, but we only used it once or twice per month, so we got the variance. Boiler feed recirc pumps may run for a long time each time they turn on, so if your limit is 25HP or less, they may qualify for a variance too.
But as to the VFD, if your pumps run full speed and there is a throttling valve to vary the flow, then the VFD will replace that system and probably pay for itself in energy savings in 2 years or less. If it runs full speed and the flow does NOT vary, then a VFD will WASTE energy in the losses of the drive itself. So in other words, it is entirely application dependent.