The National Pension Commission (PenCom) has officially approved the merger of ARM Pension Managers (PFA) Limited and Access Pensions Limited, creating a new entity known as Access ARM Pensions Limited.
The announcement which was made public on Tuesday by PenCom, marks a significant development in Nigeria’s pension industry.
The merger aims to achieve economies of scale and enhance the operational efficiency of the newly formed entity. PenCom emphasised that the consolidation will ultimately lead to improved service delivery for Retirement Savings Account (RSA) holders, ensuring better management of pension funds.
With this merger, the total number of Pension Fund Administrators (PFAs) in Nigeria now stands at 18, further shaping the competitive landscape of the industry. PenCom expressed confidence that Access ARM Pensions Limited will provide enhanced services and foster growth within the pension sector.
As the Nigerian pension landscape continues to evolve, this merger represents a strategic move towards greater efficiency and improved outcomes for pension contributors across the country.
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