Access gets regulatory approval for ARM Pensions merger

Access Pensions Limited has received regulatory approval for its merger with ARM Pension Managers (PFA) Limited, a statement from the National Pension Commission (PenCom) revealed yesterday.

According to the statement, the regulatory body approved the merger which will produce Access ARM Pensions Limited.

According to the PENCOM, the merger between both entities 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 statement read in part, “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 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.

“With the merger, this brings the total number of PFAs to 18.”