Does the Vice President Get Paid for Life? The Financial Afterlife of America's Second-in-Command
The Financial Afterlife of America's Second-in-Command
Unlike the cinematic myths surrounding the perks of high political office, the United States Vice President does not walk away from office with a guaranteed paycheck for life. While the President of the United States receives a lifetime pension established by the Former Presidents Act of 1958 (currently equal to the rate of pay for a cabinet secretary), the Vice President falls under a different set of legislative frameworks.
The Reality of Vice Presidential Pensions
Former Vice Presidents are eligible for a pension only if they meet the standard requirements of the Federal Employees Retirement System (FERS) or the older Civil Service Retirement System (CSRS). Because the Vice President also serves as the President of the Senate, their pension is calculated based on their years of federal service, their age upon retirement, and their highest-earning years. If a Vice President only serves a single four-year term and has no prior federal legislative or executive service, their pension will be modest compared to career politicians.
Perks That Do Last: Security and Status
Though a lifetime salary is a myth, former Vice Presidents do retain certain taxpayer-funded privileges designed to maintain the dignity and security of the office:
- Secret Service Protection: Historically, former Vice Presidents received temporary protection post-term. However, legislation passed over the years (including updates in 2008 and 2013) granted former Vice Presidents and their spouses six months of Secret Service protection after leaving office, with the Department of Homeland Security occasionally extending this based on threat assessments.
- Library and Transition Support: While they do not receive a massive presidential library funded entirely through federal endowments, they often establish archives at universities.
Ultimately, while a former Vice President will rarely struggle financially—typically leveraging their prestigious title into lucrative book deals, corporate board seats, and high-paying speaking engagements—the government itself does not foot the bill for a lifetime salary.