I don't remember the details but this was not the government funds (CPP, OAS, etc) so I think it was private -- administrated by Sears for their retired and retiring workers.
That is pure capitalism. Sears Canada declared itself bankrupt and it;s final act they gave all the execs big bonuses with money from the workers pension fund. No worker got any money from the bankruptcy process.
Not only unapproved but illegal in many countries. If I donated to Hamass in Canada, I could be prosecuted. Same in USA. UNRWA was a nice little loophole.