Guaranteed Minimum Income - Elements

Elements

A system of guaranteed minimum income can consist of several elements, most notably:

• a minimum wage, either set by law or resulting from negotiations of employers or their organizations with trade unions;
• a calculation of the social minimum, usually below the minimum wage;
• a safety net, to help citizens or families without sufficient financial means survive at the social minimum. This may be a transfer or, in some cases, a loan, and is generally conditional to availability for work, performance of community services, some kind of social contract, or commitment to a reintegration trajectory;
• child support by the state;
• student loans and grants;
• state pension for the elderly.