Nigeria: PenCom Approves Merger Between Access and ARM Pensions

The National Pension Commission (PenCom) has granted approval for the merger between ARM Pension Managers and Access Pensions Limited, marking a significant development in Nigeria’s pension industry.

In a statement, PenCom emphasized that the merger is aimed at enhancing service delivery and operational efficiency for Retirement Savings Account (RSA) holders of both pension fund administrators (PFAs).

“This is to inform the general public that the National Pension Commission (PenCom) has granted approval for the merger between ARM Pension Managers (PFA) Limited and Access Pensions Limited, creating a new entity named Access ARM Pensions Limited,” the statement read.

PenCom further highlighted that the merger will lead to economies of scale, improved operational capabilities, and better service delivery for RSA holders. Following the merger, the number of PFAs in the country has now been reduced to 18.