The Minimum Living Income (IMV) is an economic support designed for individuals and families facing hardship. It forms part of the protective measures of Social Security, establishing a minimum income level for those who struggle to cover basic needs.
To apply, a person must have been a legal resident or resident- equivalent for the past year, be in a financially vulnerable situation, and belong to a cohabitation unit that has existed for at least six months prior to applying. IMV not only provides cash benefits but also contributes to net worth and non-corporate assets.
In 2022, programs promoting employment helped IMV beneficiaries increase their income without erasing the advantage of the safety they receive. Some of this earned income is considered “uncountable income,” which does not affect the IMV calculation. This means that beneficiaries can continue to receive IMV or a portion of it even if their business income rises.
Minimum Vital Income 2023: How much can you receive?
An IMV simulator to clear up doubts
IMV’s annual review uses income data from the previous two years to determine uncapped income. A simulator also exists to help beneficiaries estimate how an income increase will impact benefits for the current year and the year after.
This program marks a significant step toward ensuring that vulnerable individuals not only obtain financial assistance but also have opportunities to improve their employment and social situation without losing essential support.
The Social Security simulator is available in two formats:
-
Understanding the portion of income that cannot be calculated in the IMV review for the current year (2024), using 2023 income growth data, in case you benefited from IMV in 2023.
-
If IMV is received only in 2024, estimating income that cannot be calculated in the following year’s (2025) review due to a hypothetical income increase in 2024.
Minimum Vital Income: Eligibility and amounts up to €1,330 in 2024
In any event, the simulator’s result is indicative and should be used for planning purposes. It provides a helpful idea of potential outcomes.