Mariam Abeeb
The National Pension Commission (PenCom) has approved the merger of ARM Pension Managers (PFA) Limited and Access Pensions Limited, a move poised to significantly reshape Nigeria’s pension landscape.
This was disclosed in a statement by the regulator on in Abuja.
According to the statement, the newly merged entity will operate under the name Access ARM Pensions Limited, combining the strengths of both pension fund administrators (PFAs) to enhance operational efficiency and service delivery for Retirement Savings Account (RSA) holders.
“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 statement reads.
The merger is expected to create a leading player in Nigeria’s pension industry, with total assets under management exceeding N2.22 trillion. This significant consolidation will place Access ARM Pensions Limited among the top pension fund administrators in the country in terms of asset size and market reach.
The merger also follows several earlier consolidations in Nigeria’s pension industry. Notably, Access Pensions had previously acquired Sigma Pensions, as well as a majority stake in First Guarantee Pensions.
These acquisitions solidified Access Pensions’ position in the pension sector, giving it a competitive advantage before the most recent merger with ARM Pension Managers.
PenCom highlighted that the merger aims to deliver enhanced service for RSA holders of both entities. “The creation of Access ARM Pensions Limited will drive improved service delivery, innovation, and efficiency,” PenCom noted. This move is part of broader industry efforts to streamline operations and offer superior services to pension contributors across the country.
The synergy between the two merging companies is expected to result in economies of scale, ultimately benefiting contributors and retirees by reducing operational costs and expanding service coverage.
