Guaranteed minimum income
Social-welfare system / From Wikipedia, the free encyclopedia
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Guaranteed minimum income (GMI), also called minimum income (or mincome for short), is a social-welfare system that guarantees all citizens or families an income sufficient to live on, provided that certain eligibility conditions are met, typically: citizenship and that the person in question does not already receive a minimum level of income to live on.
The primary goal of a guaranteed minimum income is reduction of poverty. Under more unconditional requirements, when citizenship is the sole qualification, the program becomes a universal basic income (UBI) system. Unlike a guaranteed minimum income, UBI does not typically take into account what a recipient already earns before receiving a UBI.