In a revelation that has sparked discussion, former United States President Joe Biden is drawing an annual pension of a staggering $417,000. This sum, as reported by the New York Post citing a tax expert, is notably higher than the salary he earned while serving as the nation's commander-in-chief.
Unpacking The Record-Breaking Pension Figure
According to Demian Brady, Vice President of the National Taxpayer Union Foundation, Biden's substantial first-year post-presidency income stems from tapping into two separate pension funds. Brady highlighted the historical significance of the amount, stating, “It’s pretty unusual, historically unusual, to have such a large pension amount. I would have to say that it’s the largest.”
The figure is double the retirement payment received by his predecessor, Barack Obama. Furthermore, it exceeds Biden's own presidential salary by approximately $17,000 per year.
Why The Payout Is So High: A Long Political Career
The key reason behind the hefty pension is Biden's extensive tenure in American public service. His career spans decades, including roles as a US Senator for Delaware from 1972, Vice President for two terms under Obama, and a full term as President.
This longevity allows him to benefit from provisions under both the Former Presidents Act of 1958 and the Civil Service Retirement System (CSRS) for former senators. The CSRS calculation considers his lengthy service as Senator and Vice President, factoring in his three highest-salary years.
Brady explained that Biden's senatorial pension could be as much as $166,374, which includes a portion set aside for spousal benefits. Crucially, he was elected before Congress revised its retirement plan to reduce the burden on taxpayers for newer members.
Presidential Perks and Taxpayer-Funded Benefits
On top of the senatorial pension, Biden receives a presidential pension of $250,600. The 1958 law mandates that a former president earns a yearly amount equal to the salary of a current Cabinet secretary.
Beyond the direct pension, former presidents are entitled to significant additional allowances for office space, staff, and equipment. The General Services Administration has allocated a budget exceeding $1.5 million for Biden, with $727,000 designated for office space alone.
Brady pointed out a notable detail: there is no cap on office rent. “So it could be in a high-density area with high rent, and there is no limit on the amount of square footage that’s being rented and funded by taxpayers,” he told the Post, adding that this provision is provided for life.
The comprehensive package underscores the substantial, lifelong financial support system established for individuals who have held the nation's highest office, especially those with a multi-decade foundation in federal politics.
