The merger of ARM Pension Managers (PFA) Limited and Access Pensions Limited to create a new company has been approved by the National Pension Commission (PenCom).
The management of PenCom announced on Tuesday that a new company called Access ARM Pensions Limited would be created as a result of the merger.
The National Pension Commission states that economies of scale, increased operational effectiveness for the new organization, and better service delivery to Retirement Savings Account (RSA) Holders are anticipated outcomes of the merger between the two entities.
With PenCom’s approval of the merger, there are now 18 Pension Fund Administrators (PFAs) in the nation overall.
“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,” PenCom Management stated in a brief statement on Tuesday.
“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.
