Many people in Alicante are finding it harder and harder to make ends meet as a result of growing rents, inflation, and everyday expenses that take up our pay cheques without our knowledge.
In order to ease the impacts of the economic crisis brought on by the COVID-19 pandemic, the Spanish government implemented the so-called Minimum Vital Income (IMV) in June 2020 as a structural solution and extra assistance.
Due to strong demand from families in need and its significance as a supplemental source of income for survival, this aid has been provided ever since.
According to the most recent data released by the National Social Security Institute, 94,398 people in Alicante received benefits last January.
The benefit, which benefits 31,100 people in Alicante, averages 562.95 euros per month per household, with 60% of those households having minor children.
IMV: What is it?
Since the Minimum Vital Income is a non-contributory benefit, receiving it does not require having made any prior contributions. The amount varies depending on the number of family members and their conditions, and it is awarded based on the assets and income of the individual or cohabitation unit.
However, there are some restrictions on how it can be combined with other sources of income and work. Applying for it requires going via Social Security, either in person or online.
However, who is eligible for the Minimum Vital Income?
Conditions
Both general criteria and particular prerequisites must be met in order to apply for the IMV, according to the Ministry of Inclusion, Social Security, and Migration.
Possessing a valid residence in Spain for a minimum of one year before submitting an application is one of the primary prerequisites. Nonetheless, victims of sexual exploitation and gender-based violence are exempt.
Additionally, candidates need to fulfil the following requirements:
• Be in the age range of 23 to 65.
• Have assets and income below the specified thresholds (which are available on the Ministry of Inclusion, Social Security, and Migration’s website).
• Show that you are independent in your home.
• Have a job seeker’s registration.
• Not serving as a director of a business.
Both individuals and cohabitation units are eligible to receive the Minimum Vital Income. A couple who live together is referred to as a cohabitation unit, which grants access to a certain percentage of the benefit.
The government has announced a 9% rise in the IMV payments for 2025, bringing the monthly individual Guaranteed Basic Income to 658.81 euros. This change would result in the following aid amounts for the next year:
• The monthly guaranteed basic income for each individual beneficiary is 658.81 euros.
• Monthly cost for two individuals (two adults or one adult and one minor): 856.46 euros.
• The monthly cost for three individuals (two adults and one minor, three adults and two minors, or one adult and two minors) is 1,054.10 euros.
• Monthly cost: 1,251.75 euros for four persons (one adult and three minors, two adults and two minors, three adults and one minor, or four adults). • Monthly cost: € 1,449.39 for five or more people (four adults and one minor, three adults and two or more youngsters, two adults and three or more minors, or one adult and four or more minors).
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