This is really a good option for retirees because here in our country, government always fail to send pension to them which is very unacceptable. When you get old, there is a lot of medical maintenance so it's better to trust bitcoin than any retirement investments offered by the government.
It only make sense if people buy Bitcoin themselves instead of depending on pension funds to maintain and properly spread out everything once people retire. But then again, do people trust themselves enough to do it themselves?
I very much doubt that when it comes to the majority of the people. People for some reason aren't capable of taking everything in their own hands, which is why it's better to let them depend on another party.
I could do it myself since I am very firm when it comes to all financial aspects, but there unfortunately aren't ways to make the retirement capital that you're building up throughout the years be converted into Bitcoin.