Madrid Rally Demands Pension Protection

Approximately 25,000 people gathered in Madrid on Saturday to defend the state pension system. The demonstration took place as Spain prepares for a general election next month.

Marchers traveled from across the country to join the protest. They moved from Atocha train station to the Gran Via, the city's busiest street. Banners reading "protect and guarantee our pensions" were visible throughout the crowd.

Participants fear that the political outcome of the upcoming vote could weaken the current benefits structure. The group is demanding that pensions remain indexed to inflation. They also called for the elimination of the gender pension gap.

Emilio Delgado, deputy spokesperson for the left-wing party Mas Madrid in the Assembly of Madrid, voiced his support on the social platform X. He stated that no pension should fall below the minimum wage. He added that a lifetime of work deserves a dignified retirement.

The pension scheme faces pressure from an ageing population and a low birth rate. Stagnant wages and a decreasing ratio of workers to pensioners also strain the system. Spain's monthly pension bill hit a record high this year at nearly 14.5 billion euros, or 16.2 billion dollars. The system now relies more heavily on state funding as pensioner numbers rise.

Prime Minister Pedro Sanchez accused the right-wing Popular Party of planning to weaken inflation-linked increases if they win the election. He pledged to protect the current affordable system if he remains in office. In response, Popular Party leader Alberto Nunez Feijoo stated on Monday that his party would continue to raise pensions in line with inflation.