President Trump’s Retirement Program Would Be ‘Sharper’ Version Of Australian System

After sparking considerable interest in the so-called “Trump Accounts” rolled out for the youngest Americans, President Donald Trump is now focusing on financial needs toward the other end of life.

Recent reports outline what the president is considering when it comes to reimagining the United States retirement system, and it’s based in part on a program that already exists in Australia.

As The Hill reported:

“That would be more for grown-ups, as opposed to children, but it’s something that’s going to be great, I think, if we can get it done,” he said. “And we’re going to try very hard.”

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Australia has a superannuation program that requires companies to contribute 12 percent of their workers’ pay into a retirement plan.

Trump said Monday that Australia’s program has “really worked out very well, incredibly well, and very respected.”

The president first expressed his interest in this type of program in December while announcing the $6.25 billion donation from the Michael and Susan Dell for the Trump Accounts.

The plan has sparked some social media interest:

I could definitely see that.

— MJTruthUltra (@MJTruthUltra) July 6, 2026

Absolutely love the idea of rethinking retirement planning. Not enough focus on that.

But not a fan of forcing small business owners to pony up for other people‘s retirement accounts.

“…mandatory savings program that requires employers to contribute 12% of a worker’s ..”

— Redwards (@ryanpedwards) July 6, 2026

Trump looking 'very strongly' at Australia-style retirement system: 'Taking that, making it sharper' https://t.co/EV7pXd8HpM #FoxBusiness

— Bo Snerdley (@BoSnerdley) July 7, 2026

Fox Business added these details:

“I made reference today that Australia has a thing going that’s very good – it’s really worked out very well,” Trump said during a Rose Garden lunch Monday, touting his new “Trump accounts” program for children. “We’re looking at that very strongly. We’re going to be taking that, and we’re going to be maybe making it a little bit sharper, a little bit even better. But we’re going to be doing that.”

Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and other administration officials were already working on the proposal, according to Trump, who described it as a companion effort to the children’s investment accounts launched under his sweeping tax-and-spending law.

Here’s some additional coverage: