The National Pension Commission (PenCom) has approved the merger between ARM Pension Managers and Access Pensions Limited, creating a new entity named Access ARM Pensions Limited.
The merger, one of the largest in Nigeria’s pension industry, is expected to improve operational efficiency, customer service, and scale.
With this merger, the number of Pension Fund Administrators (PFAs) in the country is reduced to 18.
Access ARM Pensions will manage assets worth over N2.22 trillion, making it a leading player in the pension industry.
The new entity aims to enhance services for Retirement Savings Account (RSA) holders and support micro pension products.
The merger was completed through a Scheme of Merger, with ARM Pensions transferring all its assets and liabilities to Access Pensions.
The Nigerian pension industry remains highly concentrated, with the top five PFAs controlling more than 72% of total pension assets.
Stanbic IBTC Pension Managers leads with a 37.4% share of assets under management, followed by Access ARM Pensions and other top PFAs.
The merger strengthens Access ARM Pensions’ position as one of the largest PFAs in the country.
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