The National Taxpayers Union Foundation (NTUF) calculated the total pension that President Joe Biden will receive whenever he leaves the White House in a new issue brief by Demian Brady, Vice President of Research for NTUF. Biden’s career in Congress, combined with his tenure as Vice President and President, means he will receive an annual pension of $413,000 of taxpayer dollars. His salary as president is $400,000.
President Biden is entitled to a pension as the result of the Former Presidents Act of 1958, which was enacted after concerns about the financial situation of Harry Truman. Joe Biden’s net worth is currently estimated at $9 million.
Once Biden leaves office taxpayers will provide a Congressional pension of $166,000 with annual cost-of-living adjustments and an executive branch pension equal to a cabinet secretary which is $246,400 in 2024.