Ascentric follows Barclays Stockbrokers by cutting SIPP charges

The move follows Barclays Stockbrokers' 23% reduction of its SIPP fees in March, which saw its administration fees reduced from £200 to £155 plus VAT. Ascentric's changes involve the removal of the £150 SIPP establishment charge and £50 transfer-in charge alongside the 33% reduction of the ongoing annual charge. Ascentric launched its in-house SIPP, the Ascentric Pension Account (APA), in 2009, saying it wanted to provide a "simple low cost alternative" to the third party SIPP products available on its platform. The announced changes will benefit 13,000 SIPP accounts collectively c...