He Minimum Vital Income (IMV) is an aid created in 2020 which aims to eradicate poverty and prevent social exclusion. This financial benefit is aimed both at people who live alone and at those who are part of coexistence units with limited resources to satisfy their basic needs. Its objective is to promote the social and professional inclusion of beneficiaries, by encouraging their active participation in the community.
Since its creation, the IMV has played an essential role in the The Spanish social protection systembenefiting thousands of people living in extreme poverty. In 2024, the IMV guaranteed basic incomeestablishing an annual amount of 7,250.60 euros, which corresponds to 604.21 euros per month, divided into 12 payments per year. Furthermore, it is estimated that the IMV will experience an increase of 14.1% in 2025, or an increase of 350 euros per year.
Date of receipt of the Minimum Vital Income
At the end of August, the IMV reached 649,443 housing unitsbenefiting nearly two million people with an average amount of 479.2 euros per month, which represents a total of 346.8 million euros in aid.
The IMV corresponding to September will be paid between October 1 and 4which are the first working days of the following month. This process is regulated by Article 24.2 of Royal Decree 696/2018, which establishes that the General Treasury of Social Security must make these payments within this deadline.
Thus, beneficiaries will be able to access the IMV for September no later than October 5, 2024regardless of the banking entity they have. It should be noted that some banks, such as Caixabank, BBVA and Banco Santander, have the possibility of advancing the payment of the IMV to their customers. These banks use a “Single General Treasury Account”, which allows them to know in advance the beneficiaries and the corresponding amounts.
For those who go recover IMV for the first timethe payment date will depend on the date of approval of the benefit. If it was granted between September 10 and 12, the first payment will take place in October; If it was later, you will have to wait until November, even if Social Security guarantees the retroactive payment of the monthly payments due.
Requirements
To access the IMV, applicants must meet certain requirements both when submitting the application and when reviewing it. First of all, it is essential to have legal and effective residence in Spain for at least a year before applying to IMV, although there are exceptions for minors and victims of violence or trafficking. In addition, the economic situation of the applicants is assessed taking into account the income of all members of the cohabitation unit.
Likewise, is not considered to be in a vulnerable situation if she has net assets, excluding habitual residence, greater than 20,353.62 euros. Co-living units have asset limits adjusted depending on their configuration, meaning the higher the number of members, the higher the limit allowed. If you own non-corporate assets that exceed certain specific values, you will be denied access to the IMV, regardless of your financial situation.
It is important to keep in mind that the perception of IMV is incompatible with other aids, such as financial allowance for dependent childdepending on the amount of the two services.
Amount in 2024
The IMV amount for each beneficiary or cohabitation unit is calculated as follows: difference between the guaranteed income and the total income of the applicantprovided that this difference is at least 10 euros per month. In 2024, the guaranteed income for an individual beneficiary is 604.21 euros, and this figure increases by 22% if the applicant has a disability equal to or greater than 65%.
For the coexistence unitsthe quantity varies depending on their composition. For example, a unit composed of one adult and one minor or two adults benefits from a guaranteed income of 785.48 euros, while a unit composed of two adults and two minors can receive up to 1 148.01 euros. Additionally, in the case of single-parent families, a supplement of 22% is added, resulting in amounts of up to 1,462.20 euros for an adult with four or more minors.
Likewise, they benefit child supportwhich vary depending on the age of the minor: 115 euros for children under three years old, 80.50 euros for those between three and six years old and 57.50 euros for those between six and eighteen years old.
The right to the IMV benefit begins on the first day of the month following the request and continues as long as the legal conditions are met. It may be suspended due to temporary loss of requirements, non-compliance or unjustified transfers abroad. If the suspension lasts more than one year, the right expires. Termination of the IMV may occur due to the death of the holder, permanent loss of requirements, resignation or departure from the country without prior communication. The effects apply from the first day of the following month.
