I agree with this movement and law enforcement in Canada and if it is enforced in other countries, it's good.
It's not about the elderly only but for all people who put their savings in Pension funds and don't get enough transparent reports from those entities. If their life savings are all in those Pension funds, their life will be at risk if those entities go bankrupted.
It's not about the transparency, but control. They're purposely dressing it up in phrases like "To help protect Canadians". When was the last time politicians tried to protect you and not their personal interests? Maybe some Canadians would fall for that, if not for the fact that their prime minister imposed restrictions on them in 2021, despite most people never being sick at all, nor at risk of death from covid. When they tried to protest, the same PM froze their bank accounts. Trudeau is against bitcoin and so is his mentor Klauss Schwab.