Record 14.5 Billion Euro Bill Forces Madrid Rally Ahead of Election
Twenty-five thousand marchers demand inflation protections as the cost of Spain's state pension scheme reaches an all-time high.
By Adewale Rousseau ·
Spain's monthly state pension bill reached a record 14.5 billion euros this year.
The surge in costs has placed the system under pressure from an aging population, low birth rates, and stagnant wages. As the number of beneficiaries grows, the scheme relies more heavily on state funding. The ratio of workers to pensioners continues to fall, straining the financial model.
On Saturday, approximately 25,000 people gathered in Madrid to address the issue before next month's general election. Participants traveled from across the country to join the demonstration. The group marched from Atocha train station to the Gran Via, the city's most prominent thoroughfare. Banners displayed the slogan "protect and guarantee our pensions." Demonstrators expressed concern that the winning party might weaken the system. They called for pensions to remain indexed to inflation and for the elimination of the gender pension gap.
Emilio Delgado, deputy spokesperson for the left-wing party Mas Madrid, supported the rally on social media. He stated that no pension should fall below the minimum wage and that a lifetime of work deserves a dignified retirement.
The topic has divided the two main political camps. Prime Minister Pedro Sanchez accused the right-wing Popular Party of planning to weaken inflation-linked increases if it takes power. He pledged to protect the system and asserted that the current model is affordable. Alberto Nunez Feijoo, leader of the Popular Party, responded on Monday. He said his party would continue to raise pensions in line with inflation if it wins the vote.
The general election is scheduled for next month. The outcome will determine which party controls the budget for the pension scheme.
Source: Al Jazeera
