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William Burrows in the media

I write extensively about retirement income matters and am often quoted in the national press and sometimes appear on the radio or TV.

Read my monthly Money Marketing articles:

See my contributions and quotes in the national press and BBC

Are you worried you may have been mis-sold an annuity?

Are you worried you may have been mis-sold an annuity? The letter that can help you beat the insurance bandits - By Jeff Prestridge for The Mail on Sunday Published: 22:31, 12 October 2019

This is a brilliant article in the Mail On Sunday - Hundreds of pensioners have backed The Mail on Sunday’s campaign calling for insurance companies to compensate all customers who were railroaded into taking out inappropriate pension annuities, going back to the early 2000s. Launched last week in the wake of a £23.9million fine imposed on Prudential for mis-selling annuities from 2008, our Justice for Annuity Victims campaign has drawn overwhelming support – not only from readers bamboozled into poor-value annuities they cannot escape, but also from pension experts.

I am quoted as saying

Billy Burrows is a pension specialist who has done much over the years to highlight the benefits of shopping around for an annuity. On Friday, he said: ‘I welcome The Mail on Sunday’s timely campaign. As Jane Austen wrote in Sense And Sensibility, “an annuity is a very serious business”, but sadly too many pensioners have been seriously left out of pocket by the greed of insurers. It is only right that all people who were mis-sold to in the past should now be compensated and their annuities changed. Justice must prevail.’

External web link - https://www.thisismoney.co.uk/money/pensions/article-7566145/The-letter-help-beat-annuity-bandits.html

How the annuities mis-selling racket ripped off an entire generation

The first of two stories - By Jeff Prestridge for The Mail on Sunday Published: 5 October 2019. How the annuities mis-selling racket ripped off an entire generation: As experts warn it is the new PPI, we call for a major inquiry

External web link - https://www.thisismoney.co.uk/money/pensions/article-7541283/Annuities-retirement-racket-ripped-entire-generation.html

A scandal or a cock-up?

My article for Financial Adviser - October 2019

This is the question I ask myself when I hear about Prudential’s £23m fine for failures relating to non-advised annuities sales. This follows Standard Life’s £30m fine in July 2019. As with most high profile public cases, there is a bit of both.

There was no excuse for insurance companies not informing their customers they could both shop around for the best annuities

External web link - http://https://www.ftadviser.com/pensions/2019/10/16/beware-the-one-handed-broker/

Blow for pensioners as bond market rally hits annuities

Blow for pensioners as bond market rally hits annuities - Financial Times - Josephine Cumbo, Pensions Correspondent September 5 2019

Since the beginning of the year, annuity rates — what is offered by insurers to turn a pot of pension cash into a secure retirement income — have fallen by 15 per cent. This means pensioners are getting a lot less from their savings.In practical terms, a £100,000 pension pot now buys a 65-year-old a yearly income of £4,654 or £759 less than at the start of the year

External web link - https://www.ft.com/content/0fa9a550-cf05-11e9-99a4-b5ded7a7fe3f

Annuity commission; The silent killer

Sam Brodbeck personal finance editor Telegraph- 21 Aug 2019

The silent killer taking £2,713 from your £100k pension

Annuity rates have been lousy for years. The pitiful income they pay are one of the reasons the Coalition government scrapped the effective compulsion to buy them, back in 2015, with the launch of "pension freedoms". Boris Johnson’s pledge to leave the European Union on 31 October “do or die” pushed the yield on government bonds – used to price annuities – to new lows. But sky-high commission more akin to the door-to-door salesmen of the Eighties are cutting pensioners’ take-home pay even further.

External web link - https://www.telegraph.co.uk/pensions-retirement/annuities/silent-killer-taking-2713-100k-pension/

Annuity rates 'could hit rock bottom' as gilt yields plunge

18 August 2019 by Adam Williams in the Telegraph

Pensioners who take out an annuity are earning thousands of pounds a year less than previous retirees following a dramatic shift in interest rates in recent weeks.

External web link - https://www.telegraph.co.uk/pensions-retirement/annuities/annuity-rates-could-hit-rock-bottom-gilt-yields-plunge/

It's not rock 'n' roll

By Lee Boyce for Thisismoney.co.uk - 6 June 2019

It's not rock 'n' roll, but you should engage with your pension pot, says LEE BOYCE - otherwise, you could face a far poorer retirement 

One expert, William Burrows, retirement director at Better Retirement, told FT Adviser that it's 'vitally important people take an interest where their pensions are invested…there is a lot at stake.'

External web link - https://www.thisismoney.co.uk/money/pensions/article-7104013/Why-pay-diversify-pension-pot-long-term.html

Read article

Sam Brodbeck writes in the Sunday Telegraph -29th October 2017

All things point to a rise in the Bank Rate – and savings and annuity rates are already creeping up in anticipation. Anyone who wants to buy an annuity, an insurance contract that pays an income for life, with their pension pot will be desperate to avoid “buyers’ remorse”: buying now and then regretting it if rates improve

External web link - http://www.telegraph.co.uk/pensions-retirement/news/pension-rising-rates-capture-highest-possible-income-life/

The Actuary 04 APRIL 2013 | BILLY BURROWS

Healthy choices

Billy Burrows offers an adviser’s perspective on the value of enhanced annuities for customers and examines what the future holds

External web link -

BBC Money Talk By Billy Burrows 9 February 2012- Better Retirement Group, annuity specialists

Savers left short-changed and bewildered by unfair annuities system".

External web link -

William Burrows

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This website is run by William Burrows and publishes generic information on annuities, drawdown and other related retirement income matters. Any information you use is at your own risk and does not constitute financial advice.

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