The Trump administration is looking to the land Down Under to reshape how Americans build wealth for their golden years. During a Rose Garden lunch on Monday, President Donald Trump revealed that his team is studying Australia's highly successful retirement system. The goal is to design a similar program that would put American workers in a much stronger financial position by the time they retire.
"Australia has a thing going that's very good — it's really worked out very well," Trump told reporters on Monday. "We're looking at that very strongly." He added that his administration plans to take the concept and make it even sharper for the domestic workforce.
The proposed initiative would serve as a companion to the popular Trump Accounts program recently launched for children. Key economic leaders are already spearheading the policy development, including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. Trump noted that this new push is specifically designed as a market-driven solution for grown-ups.
Trump floats Australia-inspired retirement savings accounts https://t.co/1T7PI6ekpE
— The Hill (@thehill) July 6, 2026
Australia’s model relies heavily on a mandatory savings structure known as superannuation. Under this system, employers must contribute 12 percent of a worker’s ordinary earnings into tax-favored retirement accounts. These private-sector accounts are typically managed by professional investment funds rather than the government.
Trump first expressed interest in the Australian framework back in December. At the time, he announced a massive 6.25 billion dollar donation from Michael and Susan Dell to help fund the children's account initiative. Expanding the concept to working adults could provide a crucial lifeline as Social Security faces mounting long-term fiscal pressures.
Critics and researchers agree that the current American retirement safety net needs a modern, pro-growth upgrade. While some experts caution that any transition would require careful planning, proponents believe private-sector investment accounts offer far better returns than traditional government programs. The president expressed optimism about the plan's future, noting that the administration would work closely with Congress to get it passed.