Feijoo pledges inflation-linked pension increases after Madrid rally

Approximately 25,000 people gathered in Madrid on Saturday to defend the country’s state pension system. The demonstration took place one month before the general election, during a period of widespread public protest across Europe regarding living costs and school conditions.

Participants traveled from various regions to reach the capital. The crowd moved from Atocha train station to Gran Via, the city’s most prominent thoroughfare. Banners held by marchers called to protect and guarantee pensions. Protesters expressed concern that the system could weaken depending on the election outcome. Their primary demands included keeping pensions indexed to inflation and closing the gap between men’s and women’s pension payments.

The pension scheme faces pressure from an aging population, low birth rates, and stagnant wages. The ratio of workers to pensioners continues to fall. Spain’s monthly pension expenditure hit a record high this year, reaching almost 14.5 billion euros, or $16.2 billion. As payments increase and the number of recipients grows, the system relies more heavily on state funding.

The issue has created tension between the two main political groups. Prime Minister Pedro Sanchez accused the right-wing Popular Party of planning to reduce inflation-linked increases if it takes power. Sanchez pledged to maintain the current system, which he described as affordable, if he remains in office. Alberto Nunez Feijoo, 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.

Emilio Delgado, deputy spokesperson for the left-wing party Mas Madrid in the Assembly of Madrid, voiced support for the rally on X. He wrote that no pension should fall below the minimum wage and that a lifetime of work deserves a dignified retirement.