The National Pension Commission (PenCom) has approved the merger between ARM Pension Managers (PFA) Limited and Access Pensions Limited, resulting in the creation of a new entity, Access ARM Pensions Limited.
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According to PenCom, the merger is anticipated to lead to enhanced operational efficiency, economies of scale, and improved service delivery for Retirement Savings Account (RSA) holders. With this development, the total number of Pension Fund Administrators (PFAs) in Nigeria now stands at 18.
PenCom emphasized the positive impact this consolidation will have on the overall pension sector in the country.