Madrid Rally Defends Inflation-Linked Pensions

Approximately 25,000 people gathered in Madrid on Saturday to defend the state pension scheme. The demonstration took place one month before a general election and coincided with a wider wave of European protests regarding living costs and public services.

Participants traveled from across the country to the capital. The procession moved from Atocha station along the Gran Via, the city's most prominent commercial street. Banners held by marchers read "protect and guarantee our pensions."

Protesters expressed concern that the system could weaken depending on the election outcome. Their primary demands included maintaining indexation to inflation and closing 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 be below the minimum wage. A lifetime of work deserves a dignified retirement."

The pension scheme faces pressure from an ageing population, low birth rates, and stagnant wages. The ratio of workers to pensioners has fallen. Consequently, the state relies more heavily on public funding. Spain's monthly pension expenditure reached a record high of almost 14.5 billion euros ($16.2bn) this year.

Political leaders have made the issue a central point of contention. Prime Minister Pedro Sanchez accused the right-wing Popular Party of planning to weaken inflation-linked increases. He pledged to protect the current system, which he described as affordable. PP leader Alberto Nunez Feijoo responded on Monday by vowing to continue raising pensions in line with inflation if his party wins the vote.