> For the poor, it will have no real impact.

It will likely bring back the problem of old age destitution as rule, not exception. It's a previously common scourge that never went completely away[1][2], but went into the sidelines by early-mid XX century, and is set to coming back with a vengeance, by the time current people in their 20s-30s reach old age. It hits the poor hard.

[1] https://www.marketwatch.com/story/successful-educated-but-no...

[2] https://citizenmatters.in/mumbai-abandoned-destitute-elderly...