Feijoo Backs Inflation Link After Rally

The fight over Spain's social safety net has moved from the legislative chamber to the streets. On Saturday, approximately 25,000 demonstrators gathered in Madrid to defend the state pension scheme against potential cuts before the general election scheduled for next month. The event marked the latest in a series of European protests addressing cost of living, school conditions, and alleged corruption.

Marchers traveled from across the country to join the crowd. They moved from Atocha train station to the Gran Via, the city's busiest thoroughfare. Banners reading "protect and guarantee our pensions" were visible throughout the group. Protesters demanded that benefits remain indexed to inflation and called for the elimination of the gender pension gap. They fear the system could be weakened depending on the election outcome.

Alberto Nunez Feijoo, leader of the right-wing Popular Party, addressed the issue on Monday. He stated that his party would continue to raise pensions in line with inflation if it wins the vote. This pledge follows accusations from Prime Minister Pedro Sanchez. Sanchez claimed the PP plans to weaken inflation-linked increases. He argued the current system is affordable and pledged to protect pensions if his government remains in office.

Emilio Delgado, deputy spokesperson for the left-wing party Mas Madrid in the Assembly of Madrid, voiced support on the social platform X. He wrote that "no pension should be below the minimum wage. A lifetime of work deserves a dignified retirement." The sentiment reflects the anxiety among voters who worry about the future of their income in retirement.

The pension system faces structural pressure from multiple factors. An ageing population, low birth rates, and stagnant wages have increased the financial burden. The ratio of workers to pensioners is falling, forcing the state to provide more funding. Spain's monthly pension bill reached a record high of nearly 14.5 billion euros, equivalent to $16.2 billion, this year. As monthly payments rise, the scheme relies more heavily on state resources to maintain its current structure.