Receiving the Minimum Vital Income and working will be possible in these cases

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Important news for the 1.2 million beneficiaries of the Minimum Living Income. The Government of Spain, at the proposal of the Ministry of Inclusion, Social Security and Migrations, led by Jose Luis Escriva, approved at the beginning of this month of October the incentives that allow recipients to increase their income for a year if they improve their employment situation. But what exactly does this new measure consist of? Well, the first thing to know is that the BOE has just published the Royal Decree 789/2022, of September 27, which regulates the IMV compatibility with income from work income or self-employment economic activity.

The objective pursued by the Executive of Pedro Sánchez is that the recipients enter the labor market without losing this benefit aimed at preventing the risk of poverty and social exclusion immediately. So the employment incentive, which is approved today, will enter into force in January 2023. The person who collects the IMV will then be able to look for a job and see how her disposable income will be higher than what she would have had without the incentive, which will decrease as income from

The employment incentive that is approved today and will enter into force in January 2023 is precisely aimed at ensuring that the beneficiary who joins the labor market or increases the number of hours of employment in the event that he or she is already working disposable income is higher than it would have been without the incentive, with an increase that decreases as labor income they increase. Now, it should be noted that the IMV is already compatible with employment, however, until now that work acts as a cut of this economic aid, that is, the salary received was subtracted.

Another important point to keep in mind is that It is the first employment incentive linked to a social benefit in Spain. On the other hand, the incentive of the Minimum Vital Income will be granted automatically, that is, without the need for the person receiving the payment to request it. However, the possible beneficiary will be able to know the amounts of the same through a simulator developed specifically for this mechanism, which will be launched in the coming weeks, As published today by the Ministry of Social Security.

Cases in which you can collect the IMV and work at the same time

At first, the incentive to the IMV is greater, but as the salary increases, its growth moderates, until it is eliminated when 170% of the guaranteed income is reached for each type of home. In the case of a adult person who lives alone would be some €10,030 annually, although in the case of a single parent family with a minor they would be 18,252 euros per year. This family circumstance can be seen with an example.

Example of the single-parent family incentive

Single-parent family with a minor who has had no income the previous year:

  • Your Guaranteed Rent is 10,737 euros per yearwhich in this case coincides with the IMV as they have no other income.
  • The following year, the family gets income from work worth 1,000 euros.
  • When reviewing the IM Vif there were no employment incentive, your IMV would be €9,737 (Guaranteed Income of 10,737 – 1,000 euros of earned income).
  • But the employment incentive provides in this case 1,000 eurosso the IMV+ incentive will allow the family to receive 10,737 euros.
  • Your disposable income would be 11,737 euros, the result of: (IMV+incentive = 10,737 euros) + (Salary = 1,000 euros).

The IMV bus will tour Spain until March 2023

The Social Security has launched this month a bus that will circulate throughout the national geography until March, with the aim of informing interested citizens about what requirements must be met and how to apply for the IMV. It is planned to stay two days in each city. Inside the vehicle will be volunteer officials who will carry out the necessary administrative procedures for the people who get on to request the IMV.

Source: lainformacion.com

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