Inflation allowance check: Aid to 1,200,000 citizens

Before Easter, the “inflation check” will be paid to vulnerable social groups. This is an emergency supplement for the approximately 1.2 million citizens, which the government is preparing from the state budget, with the aim of relieving, even temporarily, hundreds of thousands of households that are “victims” of inflation.

Relevant announcements will be made within the week by the Prime Minister and the relevant amendment will be submitted to Parliament in the coming days. It will follow the logic of the bonus given at Christmas. In other words, it will provide for the payment of an allowance of 250 euros to low-income pensioners and the disabled, as well as a “double” Minimum Guaranteed Income to the approximately 250,000 beneficiaries, with the relevant amounts reaching up to 900 euros.

Beneficiaries will be:

. Retirees who have an annual individual taxable income of up to 7,200 euros (600 euros per month) and an annual family taxable income of up to 14,400 euros. The total taxable value of the household real estate should not exceed the amount of 200,000 euros.

The basic criterion for the grant of 250 euros is the individual income of 7,200 euros. The family income of 14,400 euros acts as an additional “cutter” in cases where the family has two retirees. Extraordinary assistance will also be given to poor households – beneficiaries of the Minimum Guaranteed Income. The amount they will receive as emergency aid will be equal to what they are already receiving.

The guaranteed amount is defined as follows:

▪ 200 euros per month for a single person household.

▪ 100 euros for each additional adult member (ie an additional 50% is added to the basic amount).

▪ 50 euros for each minor member (ie an additional 25% is added to the basic amount).

For example, a family with two minor children who meet the income and property criteria is entitled to 400 euros (300 euros for parents and 100 euros for two children) and will receive 400 euros on December 15 and 400 euros at the end of December.

Upper limit

The maximum amount of the guaranteed amount is set at 900 euros per month, regardless of the composition of the household. The following are considered beneficiary groups:

a. Single person household. Any adult who lives alone in a dwelling and does not fall into the category of adults up to 25 years of age attending university colleges or schools or vocational education or training institutes in the country or abroad.

b. Multi-person household. All people living under the same roof.

Multi-person households include:

1) Guest persons or host family, provided that the hospitality was declared in the last cleared income tax return.

2) Adult children up to 25 years of age who attend university colleges or schools or institutes of vocational education or training, regardless of their place of residence.

c. Homeless persons. People living on the street or in unsuitable accommodation, provided they are registered with the social services of the municipalities or Community Centers or use dormitories operated by municipalities, may be beneficiaries of the program. The proof of homelessness can not be substantiated only through the income tax return form.

The income limits for the granting of the Minimum Guaranteed Income are up to 1,200 euros per semester for a single-person household and reach up to 5,400 euros for large families.