The UK government is set to publish its first-ever nationwide report into the management of £178 billion of townhall pensions later this year, as part of an ongoing drive for cost savings and efficiency in the 4.6 million member Local Government Pension Scheme.

The nationwide report into the scheme's finances, investments and membership will be published in the second half of this year. Liam Robson, an analyst at the Local Government Association, who is working on the project, said it would likely be "September at the earliest".