Thu
Dec 4 2025
08:24 am
Trump said he’s looking into an Australian-style retirement program for America. Here’s how it works
By: jbr

Trump said he’s looking into an Australian-style retirement program for America. Here’s how it works

Trump Considering Australian-Style Retirement Plan—But What Is It?

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bizgrrl's picture

Australia has a population of

Submitted by bizgrrl on Thu, 2025/12/04 - 2:21pm.

Australia has a population of 27 million [just over the population of Florida, less than the population of California and Texas], while the United States has a population of roughly 343 million.

Did you know that Australians are required to vote?

Since 1924, Australian citizens over the age of 18 have been required to vote in federal elections, by-elections and referendums. (It was only in 1984, however, that voting became compulsory for Indigenous Australians.)

Social Security is financed through a dedicated payroll tax. Employers and employees each pay 6.2 percent of wages up to the taxable maximum of $176,100 (in 2025), while the self-employed pay 12.4 percent.

Can you imagine how businesses in the U.S. Will respond to this idea?

Treehouse's picture

Already?

Submitted by Treehouse on Thu, 2025/12/04 - 5:01pm.

Isn't our Social Security financed through a dedicated payroll tax? Until it didn't get locked in the lockbox?

bizgrrl's picture

"Superannuation, or “super”

Submitted by bizgrrl on Fri, 2025/12/05 - 7:22am.

"Superannuation, or “super” for short, is Australia’s flagship retirement savings program.

Employers are required to fund employees’ savings accounts, which are invested in select funds — known as super funds — that are locked up until retirement. The employer-funded contributions are made on top of paying employees their regular income. Employees can also contribute to their own savings account.

Employers must contribute the equivalent of 12% of an employee’s income into these super funds — a gradual increase from 3% when the modern superannuation program was established in 1992.

“There is no opt out,”

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