Spain's Monthly Pension Bill Tops 14.5 Billion Euros

Spain's monthly pension expenditure hit a record high of almost 14.5 billion euros this year, a figure that has intensified political scrutiny ahead of the general election scheduled for next month. The rising cost of the state scheme has become a central issue for voters as the country prepares to elect a new government.

On Saturday, approximately 25,000 people marched through Madrid to voice their concerns. Participants traveled from across the country to join the rally, which began at Atocha train station and proceeded down the Gran Via, the city's main thoroughfare. Many demonstrators held banners demanding that the state protect and guarantee their future income.

Protesters expressed fear that the pension system could be weakened by the winning party. The crowd called for pensions to remain indexed to inflation and demanded the elimination of the gender pension gap. These demands reflect growing anxiety over the sustainability of benefits in the face of economic pressures.

The scheme faces structural challenges, including an ageing population, low birth rates, and stagnant wages. The ratio of workers to pensioners has fallen, forcing the system to rely more heavily on state funding. As the number of beneficiaries grows and monthly payments increase, the financial burden on the public budget continues to expand.

Prime Minister Pedro Sanchez accused the right-wing Popular Party of planning to reduce inflation-linked increases if it wins the vote. He pledged to maintain the current system, asserting that it remains affordable. In response, Popular Party leader Alberto Nunez Feijoo stated on Monday that his party would continue to raise pensions in line with inflation.

Emilio Delgado, deputy spokesperson for the left-wing Mas Madrid party in the Assembly of Madrid, voiced his position on the social media platform X. He argued that no pension should fall below the minimum wage, stating that a lifetime of work deserves a dignified retirement.