Current Pension and Retirement Pay for Former Presidents
Under the Former Presidents Act, a living former president receives an annual pension equal to the salary of a Cabinet secretary, which was set at $230,700 for fiscal year 2024, with annual cost-of-living adjustments reported by the Office of Personnel Management. The pension begins immediately after leaving office and is paid for life, and it is taxable as ordinary income on the OPM website.
In addition to the pension, each former president gets an annual transition allowance of up to $150,000 for the first 30 months after leaving office to help with staff and office expenses, according to the most recent funding schedules published by the General Services Administration. The allowance is meant to cover office space, communications, and printing costs during the initial adjustment period via the GSA.
Office, Staff, and Travel Funding for Former Presidents
Annual Office and Staff Budget
Each former president receives a yearly office allowance that covers rent, utilities, and clerical help, with the exact dollar figure set each year by the GSA and tied to federal employee pay scales. The office allowance is separate from the pension and transition funds, and it is intended to maintain a minimal staff for correspondence and public appearances as detailed by the GSA.
Travel and Security Expenses
Former presidents continue to receive Secret Service protection for themselves and their spouses for life, with travel and security costs funded through the Department of Homeland Security budget rather than the individual pension. The exact annual cost of this protection is not broken out in the public budget, but it is a separate appropriation from the pension and office allowances on the DHS site.
Healthcare and Other Benefits
Former presidents are eligible for the Federal Employees Health Benefits program, with the government paying a large share of premiums, and they also receive funding for a Chief of Staff and other support staff through their office allowance. These benefits are standardized across all living former presidents and are not tied to the length of time served in office per OPM guidelines.
How Presidential Pay Compares to Other Roles and Historical Changes
Salary Equivalency and Rankings
The current former president pension is pegged to the Executive Level I pay table, which is the same rate given to Cabinet secretaries, placing it above the median household income but below the pay of sitting cabinet members during active service. In terms of federal pay rankings, the pension is higher than the median pay for GS-15 employees and many senior executive service roles according to OPM tables.
Historical Changes in Presidential Compensation
The Former Presidents Act was signed into law in 1958, and the pension amount has been adjusted over the decades to match Cabinet secretary pay, not the salary of the sitting president. Before the act, former presidents received no automatic federal pension, and some relied on personal wealth or private income after leaving office