Pensioner reveals: "Life insurance was my biggest mistake" | Capital+

Planning for retirement: Harald Papenburg relied on life insurance.

recorded by Daniel Hüfner

June 12, 2025, 10:16 AM 3 mins

At Capital, seniors share what they wish they had known earlier about their pensions. This time, it's an insurance expert who was wrong about his own retirement planning.

My name is Harald Papenburg, 75 years old, and retired for a good ten years. I've worked in the insurance industry all my life, most recently in the area of occupational pensions. So, I was deeply involved in the field, advising companies, developing concepts, and juggling numbers. Looking back, you might think I should have known better—but when it comes to your own retirement planning, outside knowledge isn't automatically a good guide. Today I know: I made mistakes. And one of them put me under considerable financial pressure after I retired.

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