June 7 2024 – 2:00 p.m.
The benefits provided by the State are different and will increase in amounts according to the new increase in the minimum wage. One of them is the Child Bonus.
The Child Bonus is a public policy aimed at strengthening the pension of their respective beneficiaries. For this, it establishes a system that allocates a bonus for each child born alive or adopted. Thus, it is worth specifying that the money is delivered together with the pension and not when the child is born.
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What requirements must be met to receive the benefit?
To access the amounts you must be 65 years of age or older and reside in Chilean territory for a period of 20 years (continuous or discontinuous), counted from when you turned 20 years of age.
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In addition, it is required to have resided in Chile for at least four years during the last five years prior to the application.
If these conditions are met, it is necessary to be in at least one of these three scenarios:
- Be affiliated with an AFP and have obtained a pension as of July 1, 2009.
- Be a beneficiary of the Universal Guaranteed Pension (PGU) (in case of losing the PGU, you can continue collecting the Child Bonus).
- Not be affiliated with a pension scheme and, even so, receive a survivor’s pension.
There are also cases where you can be excluded from the Child Bonus: This is if you receive a pension from a former social security fund, Capredena or Dipreca.
Can the Child Bonus be inherited?
According to what is specified on the ChileAtiende website, the benefit is inheritable when the beneficiary turns 65 years of age and already receives the amounts that make her pension larger. Before that, she will not be able to have that condition.
Another restriction applies if you began receiving the Child Bonus after obtaining the Universal Guaranteed Pension.
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In this case the bonus will not be inheritablesince it is not part of your assets (unlike what happens with the AFP individual capitalization account).
How much money does the Child Bonus provide?
Although the money is delivered along with the pension, the bonus begins to generate returns from the date of birth of your son and/or daughter, which is equivalent to 10% of 18 minimum monthly income and is calculated as follows:
- If your son or daughter was born before July 1, 2009, the minimum income in effect in July 2009 ($165 thousand) will apply.
- If you were born after July 1, 2009, the minimum income will correspond to the amount that was in effect during the month of your birth.
If the beneficiary receives an Old-Age Solidarity Pension Contribution (APSV), the amount of this benefit could be affected, since the Child Bonus increases the amount of the old-age pension (present or future) and affects the calculation of the APSV.
The new amount that the Child Bonus will have
Considering that the minimum amount is calculated based on 10% of 18 monthly income, for beneficiaries whose children are born since July 1 it will be $900,000, although the amount will be higher at the time of requesting it, due to profitability.
This translates into an increase of $72.00 if the comparison is made with the amount in effect until the beginning of the month of July ($828,000).
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