Trump studies Australia's retirement system for US reform

Trump is studying Australia's retirement system as Social Security faces a 2032 funding crisis.

Social Security could become insolvent by 2032, unable to pay full scheduled benefits without changes.

Australia requires employers to contribute 12% of wages to each worker's retirement savings account.

Australia's system covers all workers with mandatory savings, plus a means-tested Age Pension.

Experts say Australia's model ensures widespread savings and poverty prevention at lower economic cost than the US.