Story perspectives

Trump Proposes Australia-Style 12% Retirement Accounts

7/7/2026

Summary

Story summary

U.S. President Donald Trump announced his administration is developing retirement accounts modeled on Australia’s superannuation system.
Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and officials are drafting a proposal that mirrors Australia’s 12 % contribution rule.
Trump said the administration will try to get the plan discussed with Congress.
He mentioned the idea in December while announcing a $6.25 billion donation from Michael and Susan Dell for children’s “Trump Accounts” program.

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Story summary

U.S. President Donald Trump announced his administration is developing retirement accounts modeled on Australia’s superannuation system.
Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and officials are drafting a proposal that mirrors Australia’s 12 % contribution rule.
Trump said the administration will try to get the plan discussed with Congress.
He mentioned the idea in December while announcing a $6.25 billion donation from Michael and Susan Dell for children’s “Trump Accounts” program.