PenCom approves ARM Pension Managers, Access Pensions’ merger
The National Pension Commission (PenCom) has officially approved the merger of ARM Pension Managers (PFA) Limited and Access Pensions Limited, culminating in the establishment of a new entity named Access ARM Pensions Limited.
The merger, industry analysts note, is poised to enhance the landscape of Nigeria’s pension sector by creating a more formidable player, leveraging the strengths of both organizations. According to a statement from PenCom, the union aims to achieve significant economies of scale, leading to heightened operational efficiency within the newly formed entity. The consolidation is also expected to translate into improved service delivery for Retirement Savings Account (RSA) holders, ensuring that clients benefit from a wider range of services and better customer support.
The formation of Access ARM Pensions Limited marks a crucial moment in the pension industry, bringing the total number of Pension Fund Administrators (PFAs) in Nigeria to 18.
The consolidation, stakeholders infer, reflects the ongoing trend toward mergers and acquisitions in the financial sector, where companies seek to optimise resources and enhance competitiveness in an increasingly dynamic market.
