Spain's Pension Costs Hit 14.5 Billion Euros as 25,000 March in Madrid

Spain's monthly pension bill reached a record 14.5 billion euros this year, a figure that has intensified political debate ahead of next month's general election. The cost, equivalent to $16.2 billion, reflects a system under pressure from an ageing population, low birth rates, and stagnant wages.

On Saturday, approximately 25,000 people gathered in Madrid to support the state pension scheme. Travelers arrived from across the country to march from Atocha train station to the Gran Via. Participants carried banners demanding that pensions be protected and guaranteed, specifically calling for continued indexing to inflation and the elimination of the gender pension gap.

Prime Minister Pedro Sanchez has accused the right-wing Popular Party of planning to weaken inflation-linked increases if it wins the vote. He pledged to protect the current system, which he describes as affordable. Alberto Nunez Feijoo, the PP leader, responded on Monday by stating he would continue raising pensions in line with inflation.

The scheme's dependence on state funding has grown as the number of pensioners rises and payments increase. Emilio Delgado, deputy spokesperson for Mas Madrid in the Assembly of Madrid, voiced support for the demonstrators on X. He wrote that no pension should fall below the minimum wage and that a lifetime of work deserves a dignified retirement.