United States President Donald Trump has praised Australia’s superannuation system as “a good plan” that has “worked out very well”, saying he is considering adopting a version of it in the US to help counter the nation’s shrinking birth rate.His remarks came on Wednesday AEDT as he unveiled a record US$6.25 billion (9.5 billion) donation from Michael and Susan Dell of the Dell technology company to children’s investment accounts.”There’s a certain Australian plan that people are liking and they’re talking about \u2026 not for children, necessarily, but it’s for people, working people,” Trump said.”We’re looking at it very seriously. It has worked out very well; it’s a good plan.”A reporter asked Trump whether he was specifically referring to the superannuation scheme.”That’s what they’re talking about, yep,” Trump said.The US has a retirement savings scheme known as 401k, but it differs from superannuation in that many of the contributions are voluntary rather than mandatory.<\/p>\n
Australia has the world’s fourth-largest pension pool, with the US the biggest destination where it’s invested. <\/p>\n
In February Treasurer Jim Chalmers visited the US to spruik the superannuation scheme, which was widely interpreted as a tool to negotiate with Trump over tariffs.The Dell gift program would provide US$250 ($380) to 25 million children under the age of 11 who live in households with a median income below US$150,000 ($228,000) per year.The gift builds on the ‘Trump Accounts’ program, whereby children born between 1 January 2025 and 31 December 2028 receive $US1,000 ($1,520) in an investment account that they can access when they turn 18.”Michael and Susan Dell are committing to one of the largest private donations in American history, which will directly benefit the next generation of American children through the new ‘Trump Accounts’ program,” Trump said.Trump Accounts are available to American children under 18 who have a Social Security number.The broader aim of this trust fund-style policy is to encourage family growth, echoing efforts seen in other developed nations facing similar demographic challenges.When asked about additional measures to boost the birth rate, Trump referenced Australia’s $4 trillion retirement savings system, suggesting a similar model might be considered, though he provided no further details.<\/p>\n","protected":false},"excerpt":{"rendered":"United States President Donald Trump has praised Australia’s superannuation system as “a good plan” that has “worked out…\n","protected":false},"author":2,"featured_media":322814,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[45,49,48,133,131,132],"class_list":{"0":"post-322813","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-finance","12":"tag-personal-finance","13":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/322813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=322813"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/322813\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/322814"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=322813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=322813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=322813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}