Yes, former U.S. presidents receive a pension, and it is set by federal law
Former presidents are may have access to to a monthly pension under the Former Presidents Act of 1958. The amount changes each year with cost-of-living adjustments, but as of 2024 it is approximately $235,000 per year. This is separate from any other income a former president may earn — speaking fees, book deals, or consulting work do not reduce the pension.
The pension begins the moment a president leaves office, whether by the end of a term or through resignation. A president must have served at least one full day in office to receive it. The pension continues for life and is paid to the former president's surviving spouse if they outlive the president.
This is a federal benefit funded through the General Services Administration (GSA) budget, not from a separate trust or investment account. Congress sets the amount, and it has been adjusted several times since 1958.
Key Takeaways
- Former presidents receive an annual pension of approximately $235,000 as of 2024, adjusted yearly for inflation.
- The pension begins immediately upon leaving office and continues for life, regardless of other income the former president earns.
- A surviving spouse receives the pension if the former president dies, though the amount may be reduced depending on other survivor benefits.
- The pension is funded through the federal budget and set by Congress, not earned through investment or contributions during service.
- A president must have served at least one day in office to receive the pension; it is not forfeited for any reason once earned.
How the pension amount is determined and adjusted
Congress established the pension amount in the Former Presidents Act and has raised it several times. The current annual amount of roughly $235,000 reflects adjustments made over decades, with the most recent increases tied to cost-of-living changes that apply to all federal pensions.
The exact figure varies slightly from year to year because it is tied to the same cost-of-living adjustment (COLA) that affects Social Security and other federal retirement benefits. When Congress votes to increase federal pensions, the presidential pension increases alongside them. This means the amount a former president receives in 2025 will likely be slightly higher than in 2024, though the increase is usually between 2 and 3 percent.
The pension is not means-tested — a former president's wealth, other income, or current employment does not reduce or eliminate the pension payment. A former president who earns millions from a book or speaking tour still receives the full pension.
What other benefits come with the pension
The Former Presidents Act provides more than just a monthly check. Former presidents also receive funding for an office, staff, and travel. The GSA provides office space and covers the cost of a small staff — typically an administrative assistant and a secretary. This office allowance is separate from the pension itself.
Former presidents are also may have access to to Secret Service protection for life (this was changed from a 10-year limit in 2013). The cost of that protection is not deducted from the pension; it is a separate federal expense. Medical care through the federal employee health program is also available to former presidents and their families.
A former president's spouse may also receive survivor benefits if the president dies. The surviving spouse receives a pension equal to half of what the former president was receiving at the time of death, though this can be affected by other federal survivor benefits the spouse may be may have access to to.
How the pension compares to other federal retirement benefits
The presidential pension is substantially higher than most federal employee pensions. A career federal employee with 30 years of service typically receives a pension equal to about 56 percent of their final salary. A former president receives a flat amount set by Congress, which currently works out to far more than the average federal worker would receive.
The presidential pension is also different from Social Security. Former presidents do not pay into Social Security during their presidency, and they do not receive Social Security benefits based on their presidential service. However, if a former president worked in other jobs before or after the presidency and paid into Social Security, they may be may have access to to Social Security benefits based on that work history.
Unlike some federal pensions, the presidential pension cannot be forfeited. A former president who is convicted of a crime, impeached, or removed from office still receives the pension. The only way to lose it is if Congress passes a law specifically revoking it for a particular person, which has never happened.
What happens to the pension if a former president dies
When a former president dies, the pension does not simply stop. A surviving spouse is may have access to to receive a pension based on the former president's benefit. The surviving spouse's pension is typically 50 percent of what the former president was receiving at the time of death.
If the surviving spouse remarries before age 60, they lose the survivor pension. If they remarry at age 60 or older, they keep it. This rule is the same for surviving spouses of other federal employees.
Children of a former president do not receive a pension based on the parent's service. Only the surviving spouse has a claim to ongoing benefits. If the former president had substantial assets or a will, those would pass to heirs according to the will or state law, but that is separate from the federal pension.
The history of the presidential pension and why it exists
Before 1958, former presidents received no federal pension. Harry Truman left office in 1953 with no income and struggled financially for years. Congress passed the Former Presidents Act in 1958 partly in response to Truman's situation, recognizing that former presidents faced unusual expenses and security needs that other citizens did not.
The original pension was much smaller — about $25,000 per year in 1958 dollars. It has been increased multiple times as the cost of living rose and as Congress recognized that the expenses of maintaining an office and public presence were substantial.
The law also reflects the idea that a president's service to the nation warrants some ongoing support after leaving office. Unlike most jobs, the presidency involves significant personal risk, disruption to family life, and ongoing security concerns that do not end when the term ends. The pension and related benefits are intended to address those realities.
Frequently Asked Questions
Can a former president refuse the pension?
Yes, a former president can refuse the pension if they choose. Gerald Ford and George Washington did not receive a presidential pension because the law did not exist during their presidencies. No modern former president has publicly refused the pension, though legally they could.
Does a former president lose the pension if convicted of a crime?
No. The pension cannot be forfeited for any reason, including criminal conviction, impeachment, or removal from office. Congress would have to pass a specific law to revoke a former president's pension, and this has never occurred.
What if a former president becomes president again?
If a former president returns to office, they stop receiving the pension during their new term. Once they leave office a second time, the pension resumes. The amount is recalculated based on the total years of service and current cost-of-living adjustments.
How much does the office allowance cover?
The office allowance covers rent for office space, staff salaries, and basic operating costs. The exact amount varies but is typically in the range of $200,000 to $500,000 per year depending on the size of the office and staff. This is in addition to the pension itself.
Do former presidents pay taxes on the pension?
Yes. The presidential pension is taxable income, just like any other federal pension. A former president must report it on their federal tax return and pay income tax on it.