The National Pension Commission (PenCom) has granted approval for the merger between ARM Pension Managers (PFA) Limited and Access Pensions Limited.
PenCom in a statement disclosed that the merger has received the permission of the commission 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, the total number of Pension Fund Administrators (PFAs) in Nigeria now stands at 18.
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