More money for poor children: 20 euros per month

This is what awaits you in this article

In March 2022, the federal government introduced a bill that would provide financial support for children, teens, and young adults affected by poverty. The aim of this law should be to improve the chances of those affected so that basic child security can be implemented as support.

After the Bundestag had already approved the law, on May 20, 2022, the Bundesrat also approved “a bill regulating the immediate addition of children and a lump sum payment to adult beneficiaries of minimum social security schemes on the occasion of the COVID-19 pandemic”.

Save money instantly in everyday life – that’s how it works

With prices currently on the rise, are you wondering how you can save money? We give you some useful tips to save money. That’s how they beat
Rising prices at
grocery shopAnd
pharmacy products Like
diesel And
petrol Not much on your wallet.

Who is entitled to the instant bonus?

Children, adolescents and young adults affected by poverty should receive the immediate reward. This includes people who receive the following benefits:

  • Benefits under Book II or XII of the Social Security Act (SGB II or SGB XII)
  • Benefits under the Asylum Seekers Benefits Act
  • Additional contour support
  • or child allowance

Do you want to support your child and save money, …

…but you don’t know exactly how yet? With the right investment, you can build up assets efficiently even with manageable saving rates. An attractive form of investment are child custody accounts from robo-advisors. This allows you to use the yield potential of the capital markets and the power of compound interest. You can find out all you need here: Small Deposit Kids Savings Plan

advertisement

After the Bundestag’s decision, Federal Family Minister Lisa Paus commented on the matter:

About five children in Germany live in poverty. It is unbearable that in our rich country so many children have to be content with such a little. My goal is to ensure that children are effectively protected from poverty. Instant reward for kids is an important first step. As of July 1, about 2.9 million children living in poverty in Germany will receive an extra €20 per month – unbureaucraticly and seamlessly until basic child security is in place.

There is a Child Bonus 2022 as an additional one-time payment to families of €100 per child. In this way we help children and families who need our help especially and who have had a particularly difficult time during the pandemic. Lifting children out of poverty means giving them a better start, empowering them to participate and ending social exclusion. We will do this for an immediate additional cost.

With the introduction of the immediate surcharge, the cap on supplementing children will be increased by €20 – from €209 per month per child to up to €229 per month per child. The Child Supplement supports parents who earn enough to cover their own needs, but whose income is not or just enough for the entire family—plus the Child Benefit.

According to the project, federal, state and local governments will incur an additional expenditure of €750.5 million per year (2022: 375.25 million) aimed at immediate reward for children at risk of poverty.

Basic child security in sight?

With the decision, the federal government is on its way to basic child insurance. In this way, affected children and youth can be helped non-bureaucratically and directly. Basic child insurance is one of the central projects of the federal government in the twentieth legislative period. An interministerial working group headed by the Federal Minister for Family Affairs Paus began work on the matter in March.

In one payment 200 euros

In addition to the immediate children’s bonus, there is also a one-time payment of €200 to cover higher living expenses. You will receive this amount if you are receiving benefits under Book II (SGB II), Book XII of the Social Act (SGB XII), Asylum Seeker Benefits Act or supplemental subsistence support under the Federal Benefits Act. The total amount is intended to offset the increased cost of living and expenditures related to the epidemic. Payment is due for July. According to the law, an application is not required.

In another article, we explain who will receive the already defined heating cost support. The €9 bus and train ticket, which you can use for three months from June 2022, may be interesting and convenient.

Leave a Comment