14.5 billion euro bill drives Madrid pension march

Almost 14.5 billion euros. That is the record monthly cost of Spain's state pension system, a figure that fueled a gathering of roughly 25,000 people in Madrid on Saturday. The crowd assembled on the eve of a general election scheduled for next month, joining a wider European wave of protests concerning the cost of living and public services.

Participants traveled from across the country to converge on Atocha train station. They marched along the Gran Via, the city's most prominent thoroughfare, carrying banners with the message: "protect and guarantee our pensions." The central demand from the crowd is to keep benefits indexed to inflation and to close the gender pay gap in retirement.

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

The system faces pressure from an aging population, low birth rates, and stagnant wages. The ratio of workers to pensioners continues to fall, forcing the state to provide more funding as monthly payments rise. Prime Minister Pedro Sanchez accused the right-wing Popular Party (PP) of planning to weaken inflation-linked increases if it takes power. He pledged to keep the current system, which he calls affordable.

PP leader Alberto Nunez Feijoo responded on Monday. He stated that his party would continue to raise pensions in line with inflation if it wins the vote. The election will determine which party manages the growing financial burden of the retirement scheme.