Trump orders treasury, commerce secretaries to examine Australia's pension model for US retirement overhaul

President Donald Trump has directed Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick to explore Australia's superannuation system as a potential model for overhauling U.S. retirement savings, according to FORTUNE. The move follows enthusiasm for his "Trump Accounts" initiative aimed at children and signals a shift toward reforming retirement plans for older Americans.

FORTUNETrump endorses Australia's private pension system as model for US retirement reform

"President Donald Trump has expressed support for Australia's superannuation system, a private, employer-funded retirement plan, as a model for reforming the U.S. retirement system."

The Australian system, which relies on mandatory employer contributions, is projected to become the world's second-largest retirement plan within the next decade, FORTUNE reported. Trump's interest in this model could point to a greater role for private markets in U.S. retirement planning.

Crypto Briefing noted that Trump's proposed overhaul "could reshape US financial planning, potentially increasing reliance on alternative assets." The outlet also linked the proposal to BlackRock CEO Larry Fink, who has been a prominent advocate for expanding retirement access and incorporating private investments into retirement portfolios.

Crypto BriefingDonald Trump wants to overhaul US retirement savings, taking cues from Australia and BlackRock’s Larry Fink

While specifics remain scarce, the administration's focus on Australia's superannuation system suggests a potential shift away from traditional Social Security and 401(k) structures toward a more employer-driven, market-based approach. Both outlets noted that the proposal is in its early stages, with Bessent and Lutnick tasked with evaluating the feasibility of adapting the Australian model for the U.S.