President Donald Trump said Monday that his administration is exploring a new retirement savings proposal modeled after Australia's superannuation system, signaling that the White House is considering broader reforms aimed at helping American workers build long-term savings.

Speaking Monday, Trump said the concept would be designed for adults and would be separate from the recently announced Trump Accounts initiative, which focuses on children.

"We’re going to be doing also something we’re working on later on, and it’ll be also, I think, very popular, and I guess the best definition is they have a plan in Australia, which people really like," Trump said.

The president said the administration plans to work with Congress to determine whether such a program could be implemented in the United States.

"That would be more for grown-ups, as opposed to children, but it’s something that’s going to be great, I think, if we can get it done," Trump said. "And we’re going to try very hard."

Looking to Australia's retirement model

Australia's superannuation system requires employers to contribute 12 percent of an employee's wages into a retirement account. The mandatory savings program has become one of the world's largest pension systems and is widely credited with helping Australians accumulate retirement wealth while reducing dependence on government-funded pensions.

Trump praised the system Monday, saying it has "really worked out very well, incredibly well, and very respected."

The president's latest comments build on remarks he made in December while announcing a $6.25 billion contribution from Michael and Susan Dell for the Trump Accounts initiative.

At that time, Trump hinted that the administration was evaluating additional retirement policies beyond children's investment accounts.

"There’s a certain Australian plan that people are liking," Trump said in December. "There’s a plan where, not for children necessarily, but for people, working people, and we are looking at other things different from this. I think this is very unique, but different from this, but very important."

He added then that the administration was looking at the concept "very seriously."

Social Security reform remains a major issue

Trump's renewed interest in retirement savings reform comes as lawmakers continue to grapple with the long-term financial challenges facing Social Security.

According to the latest Social Security trustees' report, the program's trust funds are projected to become depleted in 2032. Without congressional action, beneficiaries could face an automatic 22 percent reduction in monthly benefits.

The looming funding shortfall has intensified debate in Washington over how to preserve the nation's largest retirement program.

House Speaker Mike Johnson has urged Republicans to pursue Social Security reforms if the party maintains control of Congress following the 2026 elections, a position that has generated both support and criticism.

For decades, many Republicans have advocated for allowing greater private investment or partial privatization of retirement savings as a way to reduce long-term pressure on federal finances. Democrats, meanwhile, have generally opposed privatization proposals and instead favor increasing revenue to strengthen the program, often through changes to payroll taxes or adjustments affecting higher-income earners.

Although lawmakers from both parties acknowledge that Social Security faces significant financial challenges, they remain sharply divided over the best path forward.

Details remain unclear

Trump did not outline how an American version of Australia's retirement system would operate or whether participation would be mandatory, employer-funded, or voluntary. He also did not indicate whether the proposal would supplement Social Security or serve as part of a broader effort to modernize retirement savings.

Any proposal would require congressional approval, making bipartisan negotiations essential if the administration intends to move forward.

For now, the White House has offered only broad concepts, but Trump's comments suggest retirement policy could become a more prominent issue in the coming months as lawmakers confront the approaching Social Security funding deadline and debate long-term reforms designed to strengthen Americans' retirement security.