Yes, former U.S. presidents receive a pension, plus health insurance and other benefits paid by taxpayers

A former president receives a monthly pension for life, starting the day they leave office. The amount is set by law and tied to the salary of a sitting president. As of 2024, a former president's pension is approximately $221,400 per year, though this figure changes each January when federal salaries are adjusted. The pension continues whether the president served one term or two, and it passes to a surviving spouse if the former president dies.

This benefit exists because Congress decided in 1958 that former presidents needed income security after leaving office. Before that law, some former presidents faced serious financial hardship. The pension is not something a former president requests or applies for — it is automatic once they leave the White House.

Key Takeaways

  • Former presidents receive a lifetime monthly pension equal to the salary of a sitting president, which adjusts each year.
  • A surviving spouse receives a pension of 50 percent of what the former president was receiving, for life or until remarriage.
  • The federal government also pays for a former president's office space, staff, and health insurance coverage.
  • A former president who was removed from office through impeachment and conviction loses pension and other benefits.

How much is the pension and when does it start

The pension amount is set each year based on the salary Congress pays to the sitting president. In 2024, that salary is $400,000 per year, but the pension formula does not equal the full salary. Instead, the law specifies that a former president receives a pension at the rate of pay for the head of an executive department — a position that pays less than the presidency itself. This results in the approximately $221,400 annual figure, though the exact amount varies by year and by how long the person served as president.

The pension begins on the day the former president leaves office. There is no waiting period. If a president serves only one term, they still receive the full pension for life. If they serve two terms, the pension amount does not increase — it remains the same regardless of length of service.

What happens to the pension if a former president dies

When a former president dies, their surviving spouse becomes may have access to to a pension equal to 50 percent of what the former president was receiving. This survivor's pension continues for the rest of the spouse's life, unless they remarry. If they remarry, the pension stops when ready.

If a former president has no surviving spouse, or if the spouse has already died or remarried, the pension does not pass to children or other heirs. It ends when the former president dies.

Other benefits beyond the pension

The pension is only one part of the financial package. The federal government also funds an office for each former president, including rent, utilities, and staff salaries. The amount varies depending on the location and size of the office, but Congress appropriates money each year for this purpose.

Former presidents also receive Secret Service protection for life, paid by the Department of Homeland Security, not from their pension. They are covered under the Federal Employees Health Benefits Program, meaning the government pays a portion of their health insurance premiums. A former president can also use military aircraft for travel under certain circumstances, and their funerals are state events funded by the government.

What disqualifies a former president from receiving benefits

A president who is removed from office through impeachment and conviction by the Senate loses the pension and other benefits. This has never happened in U.S. history. President Andrew Johnson was impeached but acquitted by the Senate, so he retained his benefits. President Richard Nixon resigned before impeachment proceedings concluded, so he was not convicted and received his pension until his death in 1994.

Resignation alone does not end benefits. Only conviction on impeachment charges removes a president's right to the pension and other post-presidency benefits.

How the pension is funded

The pension and all other former-president benefits come from the federal budget, paid by taxpayers. Congress appropriates the money each year as part of the budget for the General Services Administration, the agency that manages federal buildings and services. The total cost of supporting all living former presidents varies year to year but is typically in the millions of dollars annually.

There is no separate fund or trust set aside for this purpose. When a former president receives a pension check, it comes from general federal revenue, the same way federal employee salaries and other government expenses are paid.

Frequently Asked Questions

Can a former president refuse the pension?

Technically yes, though it has happened only once. President Harry Truman initially refused his pension in 1953 because he believed former presidents should not receive government money. He later changed his mind and accepted it. A former president who refuses the pension must do so in writing, and the refusal can be reversed at any time.

Does a former president pay taxes on the pension?

Yes. The pension is taxable income, just like any other income. A former president must report it on their federal tax return and pay income tax on it at the applicable rate.

What if a former president becomes president again?

If a former president returns to office, they stop receiving the pension while serving as president. They receive the presidential salary instead. Once they leave office the second time, the pension resumes.

How long has the former-president pension existed?

Congress passed the Former Presidents Act in 1958. Before that, former presidents had no may provide income. President Harry Truman, who left office in 1953, faced financial hardship and had to take a job as a bank director to support himself. The law was created partly in response to his situation.

Do former vice presidents get a pension?

No. Only former presidents receive a pension under the Former Presidents Act. Former vice presidents do not, though they may be covered under other federal retirement programs if they served in Congress or other federal positions before becoming vice president.