Former President Joe Biden has secured the largest taxpayer-funded pension in U.S. history, earning an estimated $417,000 annually. This is more than his $400,000 salary as president, according to the conservative National Taxpayers Union Foundation’s vice president Demian Brady.
Inside the Retirement Plan
Biden, 83, qualifies for this unprecedented retirement sum due to his decades-long career in public service, which included 44 years in the Senate, eight years as vice president, and four years as president. According to the New York Post, Brady called the pension “historically unusual” and noted that it more than doubles the annual retirement pay of Barack Obama.
The pension combines two taxpayer-funded streams. One is from the Former Presidents Act of 1958, which guarantees ex-presidents a lifetime payout equivalent to a cabinet secretary’s salary, which is currently $250,600. The second comes from the Civil Service Retirement System, based on Biden’s time in the Senate and as vice president. His Senate pension alone could have topped $254,000 annually, though caps limited the actual payout.
Because Biden began his career before reforms tightened benefits for newer members, he can draw from multiple public retirement funds simultaneously, Moneywise reports.
Biden’s net worth is estimated to be around $10 million, with about two-thirds of his wealth tied up in real estate, primarily two homes in Delaware, a Wilmington mansion and a Rehoboth Beach property. He did see a boost in his net worth from books (such as “Promise Me, Dad”) and speaking engagements after his vice presidency.
Beyond retirement checks, former presidents receive additional taxpayer-funded perks. In fiscal 2026, the General Services Administration allocated $1.6 million for Biden, including $727,000 for office space and guaranteed for life.
Critics argue the system needs reform. Legislation such as the Presidential Allowance Modernization Act, introduced last year, seeks to limit pensions to $200,000 and scale back related perks.