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.
Read more about this topic: Guaranteed Minimum Income
Famous quotes containing the word elements:
“It is a life-and-death conflict between all those grand, universal, man-respecting principles which we call by the comprehensive term democracy, and all those partial, person-respecting, class-favoring elements which we group together under that silver-slippered word aristocracy. If this war does not mean that, it means nothing.”
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