Former presidents receive a lifetime pension equal to the top pay rate for the head of executive branch departments, which was $199,700 in 2010. The average life expectancy of black males in the United States is about 70 years. If President Obama, who took office at age 48, were to serve only one term and live to age 70, his total lifetime pension would be about $3.6 million. If he were to serve two terms, his lifetime pension would total about $2.8 million.