MyCSP, the UK government’s first provider of mutual administration services for civil service pensions, believes it could save local council schemes a collective £60m a year, but some of them have questioned whether it can reduce costs to that extent.

MyCSP's head of business development, Virginia Burke, said that by consolidating the administration of all 99 of the local government pension schemes, about £60m in costs a year could be saved. The proposal is still in its early days, but comes as the government studies ways to consolidate public sector pensions.