Trump Eyes Aussie Retirement Plan

The Trump administration is exploring Australias retirement savings system, specifically the superannuation program, which requires employers to contribute a percentage of an employees income into a special savings account. This mandatory approach has resulted in Australia having the fourth-largest retirement savings pool globally. In contrast, the U.S. system relies on optional employer-sponsored plans and Social Security, which faces long-term stability concerns. The success of Australias model is drawing attention from U.S. officials and investors, but implementing a similar system in the U.S. would face political complexities and population size differences.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.