Trump Eyes Aussie Retirement Plan

The Trump administration is exploring Australias retirement savings model, known as superannuation, which requires employers to contribute a percentage of workers salaries into investment funds. This contrasts with the U.S. system, where individuals often rely on Social Security and personal savings, with limited access to workplace retirement plans. Australias system, with its mandatory employer contributions, has resulted in a larger retirement fund and a higher global ranking. The U.S. currently ranks lower, indicating a need for significant changes to ensure retirement security. The discussion around this potential shift highlights a growing interest in strengthening retirement savings for all Americans.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.