Minimum Living Income (MIV) represents a fundamental social policy strategy to reduce poverty and social exclusion in our country. This financial assistance is available to families who: adverse economic conditions To provide the minimum income that can meet basic needs. The grant amount is not a fixed amount and varies depending on the composition and economic situation of the household.
To benefit from IMV, applicants must meet certain criteria, including legal and effective residence in Spain, belong to a cohabiting unit for which income and assets are assessed, and do not exceed established income and asset thresholds.
Who can receive Childhood Benefit Supplementary Benefit?
The Child Support Supplement is an additional monthly allowance given to families with young children. Families must meet certain income and wealth requirements to qualify for this additional assistance.
Accordingly, these criteria are:
- Belonging to a cohabiting unit with one or more minor children.
- The income of the cohabiting unit must not exceed 300% of the thresholds determined on an incremental scale To calculate the guaranteed income based on the type of cohabitation unit.
- The family’s net worth should not exceed 150% of the limit set on the increase scale To calculate the applicable equity limit based on the type of cohabitation unit.
- Meet the means testIt is set at 6 times the guaranteed income for an adult, with an increase scale equal to the income limit according to the type of cohabitation unit.
Eligibility for IMV and the Childhood Supplement can be verified through the simulator located at the National Institute of Social Security (INSS). If a family is eligible for IMV and is eligible for additional assistance, this support will be granted automatically. You only need to apply to IMV if you are eligible for supplements.
How much is the Childhood Benefit Supplement?
On the website of the Ministry of Participation, Social Security and Migration, it is stated that “The amount of this essential tool to combat child poverty is the same as in 2023 and is determined by the number of minors who are members of cohabitation. according to the following divisions, depending on the unit and the age reached on 1 January of the relevant year:
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Children under 3 years old: 115 euros.
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Over 3 years old and under 6 years old: 80.50 euros.
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Persons over 6 years of age and under 18 years of age: 57.50 euros.
These measures represent vital economic support for vulnerable families in Spain. IMV and child allowance not only provide financial assistance, but are also a reflection of the government’s commitment to the well-being of its most vulnerable citizens. These initiatives aim to improve the quality of life for many families and provide them with a path to greater economic stability and prosperity.