By Irene Madongo (May 12, 2022, 2:11 PM BST) -- Government proposals to support investment by defined contribution retirement plans in illiquid assets are complex and could be costly, a trade body for pensions advisers has warned.

The Society of Pension Professionals said that government proposals for defined contribution retirement savings plans to publicly disclose and explain their policies on illiquid investment presents challenges. The plans could generate consultancy and legal bills for trustees, the society said.

The trade body was responding to a Department of Work and Pensions consultation that also suggested that trustees should make quarterly statements to members about their investments in illiquid assets such as property, infrastructure and private equity....