Biden's post-presidency pension might exceed $400K annually
Joe Biden, after leaving office, will receive a higher pension from taxpayers than he currently does, writes MarketWatch.com, citing calculations from the National Taxpayers Union.
This organization, a conservative Washington-based think tank, closely monitors taxpayer expenditures. "They estimate that Biden could be on track to receive a public pension of up to 413 thousand CAD annually, which is slightly more than the 400 thousand CAD he currently receives as president," it reads.
According to "Forbes," Joe Biden's net worth is around 10 million CAD. "This pension would be in addition to any other money Biden would earn after leaving office," it adds.
President of the USA's pension. how much will Joe Biden get?
MarketWatch.com points out that the amount of Biden's future pension pales in comparison to the pensions paid to former corporate executives.
On Wall Street, CEOs would consider 413 thousand CAD annually as 'chump change.'
Joe Biden began his career in the Senate in 1973. This means that "he had the opportunity to join the very generous federal retirement plan, the Civil Service Retirement System, before it was closed to new members in 1984," the service points out.
Biden's withdrawal. What's next?
On Sunday, Joe Biden announced that he is withdrawing from the election campaign and immediately supported Vice President Kamala Harris. However, this does not automatically make her the Democratic Party's presidential candidate. What happens from August 19 to 22 is crucial.
On August 19, Democrats plan their election convention in Chicago. It is at this convention that the party will officially announce its presidential candidate. This will happen after a vote by the delegates. This group of people effectively nominates the presidential candidate by casting their votes. They must nominate Kamala Harris for her to run for the presidential seat.
