Mansion House Reforms - major pension providers have to invest in illiquid assets?

[stacker512]

Moderator Message:
Moved to here from the "Practical board"

Just came across a video on Youtube (https://www.youtube.com/watch?v=YggyJGc4y34) that says the Chancellor has launched something called the Mansion House Reforms, which asks pension providers to allocate 5% of the funds into illiquid UK startups.

So far Aviva, SW, Aegon, L&G, NEST, M&G, Phoenix Life have signed up.

Is this something that's well-known here, what's the impact for people? Is there any truth in this video or is it just scaremongering?


e.g. my other half has stuck with default pension fund, but I've switched last year to Fidelity World Index into my work pension.

[stacker512]

And another video on it: https://www.youtube.com/watch?v=pkSvlc43bX0