Trump Praises Australia’s Superannuation Scheme, Considers Similar System for US

U.S. President Donald Trump has revealed he is giving serious consideration to an Australian-style superannuation scheme.

The American leader made the comments during a media conference where tech billionaire Michael Dell and wife Susan were announcing a US$6.25 billion (A$9.5 billion) donation to the Trump Accounts program.

Under the program, children born from 2025-2028 receive a US$1,000 investment account that accrues until they can access it at the age of 18.

The program was originally developed to help lift the birth rate.

During the media conference, a reporter asked Trump what other measures he may consider.

That was when he referenced the Australian superannuation set-up.

“There’s a certain Australian plan that people are liking, and they’re talking about,” he said.

“There’s a plan … not for children necessarily, but for people, working people. And we are looking at other things different from this.”

The president said the United States was looking “very seriously” at introducing a similar scheme.

“It’s a good plan,” he said. “It’s worked out very well.”

Australia’s superannuation system is a retirement savings scheme where employers must contribute a percentage of a worker’s income into a long-term investment fund chosen by the employee.

The contribution is paid on top of the worker’s wages, not deducted from their pay.

The investment amount accrues as people work throughout their lives, and can be accessed in retirement.

The scheme was devised as a way to lessen future pressure on Australia’s pension system and allow workers to be more independent when they retire. One of the key differences from the American 401(k) is that the Australian system is compulsory, while the U.S. system is voluntary.

In February, Trump also announced a plan to establish a sovereign wealth fund in the United States, an initiative Australia brought in in 2006.

Under a sovereign wealth fund, the government invests surplus revenues to generate economic benefits for citizens.

In an official White House statement, the Trump administration said the fund would promote fiscal sustainability, lessen the burden of taxes, establish economic security for future generations and promote U.S. economic and strategic leadership globally.

US-Australia Relations Remain Close

Relations between Australia and the United States have warmed in recent months, with Prime Minister Anthony Albanese and Trump having held a much-anticipated meeting in Washington in October.

During the meeting, the leaders signed a bilateral agreement to secure critical minerals and rare earths, with both nations outlining plans to jointly invest more than $3 billion in critical minerals projects in coming months.

The talks also reaffirmed commitments under the AUKUS defence pact and broader strategic cooperation.

Trump levelled praise at Australia after the meeting, saying it was a “fantastic place” and reaffirming the White House’s friendship with Australia.

“We’ve been long-term, longtime allies and I would say there’s never been anybody better,” Trump said.

“We fought wars together and we never had any doubts. It’s a great honour to have you as my friend and a great honour to have you in the United States of America.”