Yes, sitting and former presidents and vice presidents receive a pension from the federal government

Former U.S. presidents and vice presidents are may have access to to a monthly pension paid by the federal government for life. This benefit is separate from their salary while in office. The pension amount is set by law and tied to the salary of a cabinet secretary, which means it changes when Congress adjusts federal pay scales.

Vice presidents who leave office also receive a pension, though the rules around when they become may be able to access have changed over time. The current law, the Former Presidents Act of 1958, established this benefit system and has been modified several times since then.

Key Takeaways

  • Former presidents receive a monthly pension equal to the salary of a cabinet secretary, adjusted annually for inflation.
  • Former vice presidents are may have access to to a pension if they served at least one full term or if they became president.
  • Presidents and vice presidents also receive other benefits including Secret Service protection, office space, and staff allowances.
  • A president or vice president can lose their pension only if they are convicted of treason, bribery, or other high crimes and misdemeanors.
  • The pension begins when ready after leaving office and continues for life, passing to a surviving spouse if they remarry.

How much is the pension and when does it start

The monthly pension amount changes each year. As of 2024, a former president's pension is approximately $235,000 per year, though this figure adjusts annually when federal salaries are increased. The exact amount is pegged to what a cabinet secretary earns, so you can find the current rate by looking up the General Schedule (GS) pay table for a GS-17 position on the Office of Personnel Management website.

The pension begins the day a president or vice president leaves office. There is no waiting period. A president who serves one term receives the same pension as one who serves two terms — the length of service does not change the amount.

Pension rules for vice presidents

Vice presidents have different rules than presidents. A vice president becomes may have access to to a pension only if they served at least one full term (four years) or if they became president. A vice president who serves less than one term receives no pension.

If a vice president becomes president — either through election or succession — they are may have access to to a president's pension for life, regardless of how long they served as vice president. This applies even if they served only a few months as president.

Other benefits beyond the pension

The pension is one part of a larger package. Former presidents also receive an annual allowance for office space and staff, currently set at $150,000 per year. They are may have access to to Secret Service protection for life (this was restored in 2013 after a previous law limited it to ten years). Their spouses also receive Secret Service protection for life.

Former presidents receive free mailing privileges — they can mail letters without postage by signing their name in the place where a stamp would go. They are also may have access to to a state funeral if they choose one, paid for by the federal government.

What happens to the pension if a president is convicted of a crime

A president or vice president can lose their pension only through a very narrow legal path. The pension is forfeited if the person is convicted of treason, bribery, or other high crimes and misdemeanors. This is the same standard used for impeachment.

A conviction for other crimes — even felonies — does not result in loss of the pension. The law specifically protects the pension from forfeiture except in these constitutional cases. No former president or vice president has ever lost their pension through this mechanism.

Pension rules if a former president or vice president remarries

If a former president or vice president dies, their surviving spouse receives a pension equal to half of what the former president or vice president was receiving. This benefit continues for life, even if the surviving spouse remarries.

The former president or vice president's own pension does not change if they remarry after leaving office. Remarriage has no effect on the benefit amount or may be able to access.

How the pension is funded

The pension and other benefits for former presidents and vice presidents are paid from the federal budget through an annual appropriation. Congress must approve the funding each year as part of the budget process. The cost is relatively small in the context of total federal spending — the entire program for all living former presidents and vice presidents costs tens of millions of dollars annually.

Former presidents do not pay into a pension fund during their time in office the way private-sector workers do. The benefit is funded entirely by current federal tax revenue.

Frequently Asked Questions

Do presidents have to pay taxes on their pension?

Yes. The pension is taxable income, just like any other income. Former presidents must report it on their federal tax return and pay income tax on it. Some states also tax the pension depending on where the former president lives.

What if a president dies before taking office or shortly after being elected?

A president-elect who dies before taking office does not receive a pension. If a president dies in office, their surviving spouse receives the half-pension benefit. The pension only applies to those who actually served as president.

Can a former president give up their pension?

Legally, yes — a former president could refuse the pension or donate it. However, this has rarely happened. Most former presidents accept the benefit. The pension is considered part of the compensation for the office, not a discretionary gift.

Do former presidents who become senators or representatives get a different pension?

No. A former president who later serves in Congress receives both the presidential pension and a separate congressional pension based on their congressional service. The two pensions are independent and both are paid.

How long does the pension last?

The pension continues for the life of the former president or vice president. When they die, it ends for them, though a surviving spouse may receive the half-pension benefit. There is no age limit or time limit — the benefit is for life.