Jeremy Hunt to unveil pension fund reform plan to help UK startups

Chancellor will outline proposals to mobilise investment and support homegrown firms in Mansion House speech

The chancellor, Jeremy Hunt, is poised to announce plans to merge workplace pension schemes and release up to 75bn of retirement funds for fast-growing startups, in a move that could accelerate plans to create the next Silicon Valley.

The proposals, aimed at mobilising investment from the UK's 2.5tn pensions sector, are due to be outlined in a speech to top executives and MPs in central London at the lord mayor's annual Mansion House dinner on Monday evening.