By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) at the weekend announced the names of six (6) licensed custodians.

On the list are First Pension custodian, UBA Nominee, Stanbic Nominee, Zenith Pension custodian, Diamond Pension Custodian and FCMB Nominee.

However, the CBN disclosed no details of the custodians, the Pension Reform Act was enacted in 2004 to ensure that every person who worked in either the Public Service of the Federation, Federal Capital Territory or Private Sector receives his retirement benefits as and when due.

Also, the Act assist improvident individuals by ensuring that they save in order to cater for their livelihood during old age and establish a uniform set of rules, regulations and standards for the administration and payments of retirement benefits for the Public Service of the Federation, Federal Capital Territory and the Private Sector.

The pension fund administrators (PFAs) and the pension fund custodians (PFCs) are the main operators’ nation’s pension scheme.