Last friday[Jan.20th] the 55-year old Barack Obama became a federal retiree. For the upcoming year his pension payment will be $207,800 which is half of his presidential salary according to CNN.
The transition period for Obama as for every other former president is around seven months to adjust to post-presidential life. There is also a lifetime of Secret Service protection for the ex-Commander in Chief, as well as travel allowances, office expenses, and health coverage.
The pensions and other benefits were created in 1958 after Harry Truman experience financial trouble during his presidency. The president salary is $400,000 but President Trump said he would decline pay.
Advertisement
