The Access ARM Pensions Limited, a merger of Access Pensions and ARM pensions says it will drive innovation and expand coverage into Nigeria’s vast informal sector with its N3 trillion Assets Under Management (AUM).
The merger between ARM Pension Managers (PFA) Limited and Access Pensions Limited, approved by the National Pension Commission (PenCom), has created a formidable player in the pension industry with AUM, accounting for 15 per cent of the industry’s total assets and more than 20 per cent of its customer base.
Speaking at the unveiling of the new company in Abuja, Managing Director, Access Pensions Limited, Dave Uduanu, emphasised the strength of the organisation with the support of Access Corporation.
He said the new entity was strongly capitalised with total shareholders’ funds exceeding N20 billion, and well above the minimum regulatory requirement. He further outlined plans to collaborate with regulators, partners, and the parent company to leverage technology for expanding pension coverage into the vast informal sector through a well-crafted onboarding strategy for micro-pensions.
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Uduanu said over the past 19 years, the legacy companies had thrived through unwavering determination, growing sustainably, and earning the loyalty of their customers.
Also, in his remarks, former Managing Director, ARM Pension Managers Limited, Mr. Wale Odutola, said the new entity was well-positioned to play a pivotal role in shaping the future of pension fund management in the country.
He said, “We are thrilled to join forces with Access Pensions to create a stronger, more resilient organization. Together, we will leverage our combined resources to drive innovation and excellence in pension fund management.”
Acting Chairman, Access ARM Pensions Limited, Austin Opara, reaffirmed the board’s commitment to the new brand, adding “We are dedicated to making it a strong and successful entity”.
He assured customers of reliability, growth, and commitment to service, adding that “For those who are not yet satisfied, we will work to earn your trust”. He also reaffirmed the company’s commitment to stakeholders to grow their funds and assets as well as strengthen its culture of rewarding staff, and ensuring they are recognised for their contributions.
Uduanu, also reflected on the rationale behind the merger. He said, “This union positions us uniquely in the evolving landscape of pension fund administration. “Firstly, advances in medical science implies longer life expectancies compared to 20 years ago when Nigeria’s pension industry began.
“We face shifting regulatory landscapes, changing macroeconomic trends, and increasing demands for transparency and efficiency. Meeting these demands requires greater resources and pooled strengths to deliver improved customer satisfaction in retirement.”
He said, “The merger of Access Pensions Limited and ARM Pension Managers Limited is more than just a business transaction; it is a strategic alignment of strengths, expertise, and resources.
“With combined assets under management of over N3 trillion and over 2 million Retirement Savings Account (RSA) holders, this business exemplifies what can be achieved when industry leaders unite with a shared vision.”
