25,000 rally in Madrid demanding state pension guarantees

Around 250,000 people participated in a rally in Madrid on Saturday, demanding protection and guarantees for the Spanish state pension system. The protest took place from Atocha train station to the Gran Via, the city's main shopping street. Madrid authorities confirmed the attendance of approximately 250,000 demonstrators. Several participants carried banners with the message "Protect and Guarantee Our Pensions."

The rally occurred amid a political dispute over the pension scheme's sustainability and the rising cost of living. Socialist Prime Minister Pedro Sanchez accused the opposition party of planning to weaken inflation-linked pension increases. Demonstrators walked peacefully during the event, which attracted the attention of curious tourists.

Juan Fernandez, a civil servant from Seville, expressed concern about the future of his pension. He opposed any privatization of the system, warning that privatized portions would be linked to stock market prices, creating both winners and losers. Earlier this month, a right-wing opposition MP, Ester Munoz, predicted the pension system might collapse and called for its modification. This caused criticism from the government.

Pensions are a hot topic in the upcoming parliamentary election scheduled for November 29. The PP leader, Alberto Nunez Feijoo, pledged to continue raising pensions in line with inflation if his party wins the election. In contrast, Sanchez accused the PP of questioning the link between pension increases and inflation, which has been in place since 2022. Around 6.8 million Spaniards currently receive a state pension, with an average monthly payout of €1,576 (US$1,765).