PenCom approves ARM, Access Pension merger

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, the pension regulator said in an advertorial on Tuesday.

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

According to the Commission, the merger brings the total number of Pension Fund Administrators to 18.