HE Minimum Vital Income (IMV) It is a social policy measure implemented in Spain with the aim of reducing poverty and social exclusion. This financial assistance is designed to guarantee a minimum level of income to economically vulnerable households.
What is the Minimum Subsistence Income?
IMV is economic assistance for households that cannot meet their basic needs due to their economic situation. This is an inclusive measure aimed at guaranteeing a minimum level of well-being and reducing social inequalities.
The amount of IMV varies depending on various factors, such as the composition of the household and the particular economic situation. Therefore, there is no fixed amount, it is calculated on a case-by-case basis.
To benefit from IMV, a number of requirements must be met:
- Legal and effective residence. Applicants must be legally and effectively resident in Spain and must have done so for a continuous period prior to application.
- Co-living unit. The income and assets of the applicant’s cohabitation unit are evaluated.
- Economical situation. Taking into account the financial situation of the household, it is ensured that the income and assets do not exceed certain thresholds.
IMV childhood benefit supplement
The IMV child support supplement is an additional benefit for families with young children. Its aim is to support vulnerable families and contribute to reducing child poverty.
The amount of the supplement varies depending on the age of the minor:
- Children under three years old: 115 euros.
- Children over three years and under six: 80.50 euros.
- Children over six years and under 18: 57.50 euros.
The range therefore varies from €565.37 for an adult who is part of a co-living unit to €1,23.83 if the same unit consists of four adults and a minor. For a “typical” family of two adults and two young children, the monthly benefit will reach 1,074.21 euros.
If you want to look at the detailed amounts of all assumptions in non-single-parent families, you can see the chart below. When you hover over the bars, you can see the data in detail:
The requirements for accessing this complement, detailed on the Department of Labor website, include:
-
Be part of a cohabitation unit that includes minors.
-
Comply with IMV export requirements.
-
Do not exceed the maximum limits on the assessable income, net worth, and assets test.
How to claim IMV child benefit supplement
Eligible families can request this additional support through the National Social Security Institution (INSS). If you already have IMV rights, supplementary automatically recognized. Otherwise, a separate application must be made to IMV for the benefit to be recognized.
The supplement becomes valid from the first day of the month following the month in which the application is made and is paid monthly via bank transfer. Its duration will be extended as long as the situation of economic fragility continues and the requirements that give rise to the right to collection continue.