President Shimon Peres has chosen to forgo the state funding he is entitled to for the cost of renting an office after he leaves office next month. Instead, Peres will make use of his office at the nonprofit Peres Center for Peace in Jaffa. His decision will save the government several hundred thousand shekels a year.
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Former presidents are normally entitled to government funding for a 140-square meter (1,510 sq. ft.) office. They are also entitled to between 1 million to 2 million shekels ($289,000 – $578,000) to staff and operate the office for seven years after leaving office.
In Peres’ case, the government is expected to adapt his office at the Peres Center to meet the Shin Bet security service’s requirements to protect the former president. He will be provided with security guards and will also get a state-funded car and driver, and a pension of 47,000 shekels per month gross.
Peres is expected to live in north Tel Aviv, in an apartment he purchased in the Ne’eman Towers. According to published reports, the apartment cost the president 6 million shekels.