By Niyi jacobs
The National Pension Commission (PenCom) has granted approval for the merger between ARM Pension Managers (PFA) Limited and Access Pensions Limited, resulting in the formation of a new entity called Access ARM Pensions Limited. This strategic merger is expected to achieve economies of scale, enhance operational efficiency, and improve service delivery to Retirement Savings Account (RSA) holders.
The merger is a significant development in the pension industry, as it brings together two reputable players to create a stronger and more efficient entity. The combined resources and expertise of ARM Pension Managers and Access Pensions will enable Access ARM Pensions Limited to better serve its clients and contribute to the growth of the pension sector.
With the merger, the total number of Pension Fund Administrators (PFAs) in Nigeria has been reduced to 18. This consolidation is expected to lead to improved management and supervision of pension funds, ultimately benefiting RSA holders.
The approval of the merger by PenCom demonstrates the commission’s commitment to promoting a stable and efficient pension system in Nigeria. The merger is expected to have a positive impact on the industry and contribute to the achievement of the commission’s objectives.
