By Sola Alabadan
The National Pension Commission (PenCom) has approved 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 in Nigeria to 18.
Access Pensions is a subsidiary of the Access Corporation. The Pension Fund Administrator (PFA), which resulted from the business combination of First Guarantee Pension Limited and Sigma Pensions Limited, has Assets Under Management (AUM) of over N1 trillion and over 1 million Retirement Savings Accounts (RSAs).
ARM Pension Managers is one of the first seven PFA granted license by PenCom in December 2005. It is part of the Asset & Resource Management Company Limited (ARM) Group.
