Do Ex Presidents Get Paid and What Is the Current Pension Amount
Yes, former U.S. presidents receive a taxable pension administered by the Office of Personnel Management. The annual pension is set at the Executive Level I pay rate for former cabinet secretaries, which was $230,700 in 2024 according to the OPM pay tables and the National Archives presidential pension page. The pension begins immediately after leaving office and continues for life, with annual cost-of-living adjustments based on the Employment Cost Index.
The pension is funded through the Former Presidents Act, originally signed in 1958, and is separate from any income earned after office. Former presidents can also earn money from book deals, speaking engagements, and board positions, which are not covered by the government pension. The combined effect is that a former president can earn well above the pension amount through private sector activities and commercial partnerships.
What Other Benefits and Allowances Do Former Presidents Receive
Transition Funding and Office Space
Each former president receives a transition budget during the first few months after leaving office, administered by the General Services Administration. The 2024 transition allocation was set at roughly $1 million for staff, travel, and office setup, with additional funds available for the outgoing team GSA transition resources. After the transition period, the National Archives provides office space, staff, and a travel allowance under the Former Presidents Act.
Staff and Travel Allowances
The act provides each former president with a yearly staff allowance, which was reported at around $1 million in recent years, plus a travel allowance for official former president business. These funds are managed by the National Archives and Records Administration and are intended to support the former president's public role, archives, and official activities. The exact dollar amounts can vary based on congressional appropriations and administrative rulings.
How Former Presidents Earn Income After Office
Book Deals and Speaking Fees
Former presidents commonly earn significant income from memoir advances and speaking engagements. Advances for presidential memoirs have ranged from $10 million to over $65 million per book in recent deals, with the publisher paying the advance upfront. Speaking fees for former presidents have been reported in the six-figure to low seven-figure range per event, depending on the audience and organization.
Corporate Boards and Foundations
Some former presidents have joined corporate boards, advisory roles, and philanthropic foundations after leaving office. These positions can generate annual compensation, equity-like arrangements, and consulting fees, subject to federal ethics rules and conflict-of-interest restrictions. The Office of Government Ethics and the National Archives oversee compliance with post-employment rules for former presidents.