The National Pension Commission (PenCom) has officially approved the merger between ARM Pension Managers (PFA) Limited and Access Pensions Limited, resulting in the establishment of a new entity. This strategic consolidation aims to enhance service delivery and expand the range of pension products available to clients. The merger is expected to create a more robust organization capable of better meeting the needs of its stakeholders in the evolving pension landscape.
The management of PenCom announced on Tuesday that the merger will lead to the creation of a new organization named Access ARM Pensions Limited. This new entity is expected to leverage the strengths of both ARM Pension Managers and Access Pensions to better serve its clients and enhance the overall pension management sector.
According to the National Pension Commission, the merger between both entities is expected to result in the achievement of economies of scale, improved operational efficiency of the new entity, as well as improved service delivery to Retirement Savings Account (RSA) Holders.PenCom’s approval of the merger has brought the total number of Pension Fund Administrators (PFAs) in the country to 18.
In a concise statement on Tuesday, PenCom Management announced, “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 to form a new entity named Access ARM Pensions Limited.“The merger is expected to result in the achievement of economies of scale, improved operational efficiency of the new entity as well as improved service delivery to Retirement Savings Account (RSA) Holders.“With the merger, this brings the total number of PFAs to 18.”
