Minimum Living Income (MIV) stands as a core social policy aimed at reducing poverty and social exclusion in the country. This financial aid supports families facing adverse economic conditions by providing a baseline income that covers essential needs. The grant amount fluctuates; it is not fixed and depends on the household’s composition and economic situation.
To qualify for IMV, applicants must meet several requirements, including legal and effective residence in Spain, being part of a cohabitation unit whose income and assets are assessed, and not exceeding established income and asset thresholds.
Who can receive Childhood Benefit Supplementary Benefit?
The Child Support Supplement is an additional monthly payment for families with young children. Eligibility hinges on specific income and wealth criteria that families must meet to qualify for this extra support.
In particular, the criteria are as follows:
- 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 used 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 incremental scale used to determine the equity limit according to the type of cohabitation unit.
- Meet the means test, which 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.
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Eligibility for IMV and the Childhood Supplement can be verified through the simulator hosted by the National Institute of Social Security (INSS). If a family is found eligible for IMV and for additional assistance, the benefits are granted automatically. Only apply for IMV if there is eligibility for supplements.
How much is the Childhood Benefit Supplement?
According to the website of the Ministry of Participation, Social Security and Migration, the amount allotted to combat child poverty remains unchanged from 2023 and is determined by the number of dependent children in the cohabitation. The distribution depends on the unit type and the child’s age as of January 1 of the relevant year, as follows:
- Children under 3 years old: 115 euros.
- Children over 3 and under 6 years old: 80.50 euros.
- Persons over 6 and under 18 years old: 57.50 euros.
These measures provide essential economic support for vulnerable families in Spain. IMV and the child allowance reflect the government’s commitment to the well-being of its most vulnerable citizens. The initiatives are designed to improve living conditions and offer families a pathway toward greater economic stability and prosperity.