in Spain, half board 862 euros per month is not enough for many people. retirees. To alleviate this situation, the National Institute of Sciences Social Security (INSS) created complement the minimumsIt adds an economic amount to the pensions with contributions, which is less than that determined in the General Government Budgets in force each year.
This plugin is a financial assistant which is given retirees with a pension below the minimum. It is also necessary to have a legal residence in Spain and have an income of less than 8,614 Euros per year.
According to the latest data from the Ministry of Labor, Immigration and Social Security, there are a total of 2,177,222 pensioners in Spain. complement the minimumsIt represents 24% of the total number of retirees in the country, which is 9,067,433. In other words, 1 in 4 pensions need this supplement to reach the minimum specified in current budgets.
it’s important to pay attention this annex cannot be consolidated and reviewed annually. In other words, Social Security reviews this each year by checking the beneficiary’s income level and continuing to increase (if income is lower) or decrease (if income is higher).
Social Security may take part of your pension
to hold it, retirees must present a certificate before the end of March each year. rents Contribution of income as well as tax returns filed where inheritance assets appear and where appropriate.
What does not presenting proof of income mean?
If you do not submit this document when necessary, Social Security can penalize by removing part of the pension and withdrawing the minimum supplement.. The sanction will be lifted as long as the beneficiary submits the said statement and meets the access conditions.
It is important to emphasize that smallest complement a basic help For many retirees in SpainThose who cannot meet their basic expenses with their pension. In addition, it is essential for beneficiaries to submit the income statement in a timely manner, as its withdrawal may pose a serious problem.
attribution The amount received for this supplement will vary depending on the contribution pension that needs to be added.. For this, Social Security will collect the entire income from the beneficiary’s annual calculation and the remaining amount will be paid by Social Security until the minimum amount is reached.