Madrid rally defends Spain's pension costs

Approximately 25,000 people converged on Madrid this Saturday to rally behind the state pension system. The gathering occurred just before next month's general election, joining a wider wave of European protests focused on living costs and institutional trust.

Crowds traveled from across the country to the capital. They marched from Atocha train station to the Gran Via, the city's busiest thoroughfare. Banners demanding that pensions be protected and guaranteed were visible throughout the procession.

Participants expressed concern that the political winner might alter the current structure. The group wants pensions to remain indexed to inflation and seeks to close the gender gap in payouts. Emilio Delgado, deputy spokesperson for the left-wing Mas Madrid party, posted on X that no pension should fall below the minimum wage.

The system faces pressure from an aging population, low birth rates, and stagnant wages. The ratio of workers to pensioners has declined. Spain's monthly pension expenditure hit a record high of nearly 14.5 billion euros, or 16.2 billion dollars, this year.

Rising numbers of retirees and higher monthly payments have increased reliance on state funding. Prime Minister Pedro Sanchez has accused the right-wing Popular Party of planning to weaken inflation-linked increases if they take power. He argues the current model is affordable and pledges to keep it intact.

Alberto Nunez Feijoo, the leader of the Popular Party, responded on Monday. He stated that his party would continue raising pensions in line with inflation if it wins the vote.