About 25,000 Rally in Madrid Backing Spain's State Pensions, Demanding Inflation-Linked Rises

Approximately 25,000 people have gathered in the Spanish capital, Madrid, in support of the state pension scheme. The demonstration on Saturday came as protests continue across Europe, prompted by a range of issues including the cost of living, school conditions and alleged corruption.

Demonstrators want pensions to remain indexed to inflation and are calling for the gender pension gap to be eliminated. These two demands became the central message of the march.

Protesters from across the country marched through Madrid on Saturday, ahead of next month's general election. As a result, the pension issue has moved even more strongly to the centre of the election debate.

The pressure on Spain's state pension scheme is being driven by several factors, including an ageing population, a low birth rate and wage stagnation, as well as a declining ratio of workers to pensioners.

Demonstrators are concerned that the state pension scheme could be significantly weakened depending on who wins next month's election. The country's monthly pension bill hit a record high this year of almost 14.5 billion euros, or $16.2 billion.

Protesters marched from Atocha train station to the Gran Via, Madrid's busiest and most famous street. Several of the demonstrators carried banners reading, protect and guarantee our pensions.

Emilio Delgado, deputy spokesperson of the left-wing party Mas Madrid in the Assembly of Madrid, posted on X that no pension should be below the minimum wage, adding that a lifetime of work deserves a dignified retirement.

Prime Minister Pedro Sanchez has accused the right-wing Popular Party (PP) of planning to weaken inflation-linked pension increases if it wins next month's election. The exchange of accusations between the two sides over pensions has intensified before the vote.

However, PP leader Alberto Nunez Feijoo said on Monday that he would continue to raise pensions in line with inflation if his party wins the vote. In other words, the opposition camp has publicly denied any plan to cut pensions.

Sanchez, for his part, has pledged to protect pensions if he remains in office, and says the current pension system is affordable.

In reality, however, the system has gradually become more reliant on state funding because of a growing number of pensioners and increases in monthly payments. This financial pressure is the main backdrop to the debate.

The question now is which direction next month's election result takes the future of the pension system. The demonstrators' demand is clear: whoever comes to power must keep the two promises, raising pensions with inflation and eliminating the gender pension gap.