Yes, former presidents receive a pension, plus housing, travel, and security benefits for life

Former U.S. presidents are may have access to to a monthly pension set by federal law. As of 2024, that pension is equal to the salary of the current president, which is $400,000 per year. This benefit began in 1958 under the Former Presidents Act, after President Harry Truman left office with minimal income and Congress decided the nation should support its former leaders.

The pension is not something a former president requests or negotiates. It is automatic once they leave office, provided they did not resign (only Richard Nixon resigned, and he still received his pension). The payment comes from the federal budget and is treated as regular income for tax purposes.

Key Takeaways

  • Former presidents receive an annual pension equal to the current president's salary, currently $400,000 per year.
  • The Former Presidents Act also covers lifetime Secret Service protection, office space, and staff funding for each former president.
  • A former president's pension stops if they die, but their spouse may receive a survivor benefit equal to half the pension.
  • Former presidents can decline the pension if they choose, though this is extremely rare.

What the Former Presidents Act actually covers

The pension is only one part of the benefit package. The Former Presidents Act, passed in 1958 and updated several times since, also provides:

  • Lifetime Secret Service protection for the former president, their spouse, and their children under age 16 (or up to age 10 after the president's death).
  • Office space and staff: funding to rent an office and hire up to two staff members, with the amount adjusted annually.
  • Travel funds for official business and events.
  • Health insurance through the Federal Employees Health Benefits Program, with the former president paying the same share as active federal employees.

These benefits are separate from the pension itself. A former president who declines the pension still receives Secret Service protection and other security measures, but loses the office and staff funding. The total cost of these benefits to the federal government varies by former president, depending on how much they travel and how large their security detail needs to be.

How much the pension has grown over time

When the Former Presidents Act passed in 1958, the pension was set at one-half of the president's salary at that time. In 1976, Congress changed it to equal the full salary of the sitting president, which means it rises whenever the president's salary increases.

The president's salary has been $400,000 since 2001. Before that, it was $200,000 (set in 1969). Because the former president's pension is tied to the current president's salary, not to inflation alone, it only changes when Congress votes to raise the president's pay, which happens rarely. A former president also receives a pension from their time as a federal employee if they served in Congress or other government roles before becoming president. This is calculated separately under the Federal Employees Retirement System or the older Civil Service Retirement System, depending on when they served.

What happens to the pension if a former president dies

The former president's pension ends when they die. However, their surviving spouse receives a benefit equal to one-half of the pension the former president was receiving. This survivor benefit continues for the spouse's lifetime, unless they remarry before age 55 (in which case they lose it).

Children do not receive a direct pension, but they remain covered under Secret Service protection until age 16, or until age 10 after the former president's death. The family may also continue to use the former president's office space and staff for a limited time after death, though Congress has sometimes restricted this benefit or required the family to cover costs themselves.

Can a former president refuse the pension

Yes, a former president can decline the pension, though this is uncommon. When Harry Truman initially left office, he had no pension and struggled financially, which is why Congress created the benefit. Since then, only a few former presidents have refused it. Donald Trump announced he would not accept the pension, though he did accept other benefits like Secret Service protection.

Refusing the pension does not mean refusing all benefits. A former president who declines the pension still receives Secret Service protection for life. The office and staff funding, however, is typically tied to accepting the pension, so refusing one usually means losing the other. This creates a practical incentive for most former presidents to accept the pension, even if they do not need the money.

How the pension compares to what former presidents actually earn

The $400,000 annual pension is often smaller than what a former president earns from other sources. Many former presidents write books, give paid speeches, serve on corporate boards, or work as consultants. Some of these income streams are far larger than the pension.

The pension is also subject to federal income tax, so a former president's take-home amount is less than the stated figure. It is not a special tax-free benefit — it is treated as ordinary income. Former presidents who served in Congress before becoming president may also receive a congressional pension in addition to the presidential pension. The total can be substantial, but again, it depends on how long they served in Congress and when they served.

How this differs from other countries

The United States is not unique in providing pensions to former leaders. Many democracies offer similar benefits, though the amounts and structure vary widely. Some countries provide pensions only if the president served a full term, or only if they left office through normal election rather than resignation or removal.

The U.S. approach is relatively generous and automatic, with few conditions attached. Most other democracies tie the pension amount to years of service or to a percentage of the sitting leader's salary, rather than making it equal to the full salary. The U.S. also provides more extensive security benefits than many other countries, reflecting the scale of the Secret Service and the perceived security risks to former presidents.

Frequently Asked Questions

Do former presidents have to pay for their own Secret Service protection?

No. Secret Service protection is provided at no cost to the former president. The cost is paid from the federal budget. This protection is mandatory and cannot be refused, though a former president can request modifications to how it is carried out.

What if a former president becomes president again?

If a former president returns to office, their pension stops while they are serving as president. They receive the president's salary instead. If they leave office again, the pension resumes. This happened with Grover Cleveland, who served two non-consecutive terms.

Do former presidents' spouses get a pension if the president dies while in office?

No. The survivor benefit under the Former Presidents Act only applies if the president dies after leaving office. If a sitting president dies, the spouse may receive other federal benefits, but not the former presidents' pension.

Can Congress take away a former president's pension?

Technically yes, but it would require a new law. Congress has occasionally debated reducing or eliminating the pension, but has not done so. The pension is set by statute, so it can be changed by statute, but this is politically difficult.

How much does the office and staff funding actually cover?

The amount varies by year and is adjusted for inflation. It typically covers the cost of renting office space in a major city and paying one or two staff members. Many former presidents spend additional personal funds on their offices and staff beyond what the government provides.