Sanchez pledges pension protection as 25,000 march in Madrid

Approximately 25,000 people gathered in Madrid on Saturday to rally behind the state pension scheme. The protest took place ahead of the general election scheduled for next month. Marchers traveled from across Spain to participate in the event.

The crowd moved from Atocha train station to the Gran Via, the city's busiest thoroughfare. Banners carried by demonstrators read "protect and guarantee our pensions." The group seeks to keep pensions indexed to inflation and eliminate the gap between men's and women's retirement income.

Emilio Delgado, deputy spokesperson for Mas Madrid, supported the movement on social media. He stated that no pension should fall below the minimum wage. Delgado added that a lifetime of work deserves a dignified retirement.

The pension system faces pressure from an aging population and low birth rates. Stagnant wages and a falling worker-to-pensioner ratio also strain the finances. Spain's monthly pension bill hit a record 14.5 billion euros this year, equivalent to 16.2 billion dollars.

Prime Minister Pedro Sanchez accused the right-wing Popular Party of planning to weaken inflation-linked increases. He pledged to protect the system if his party remains in power. Sanchez described the current model as affordable.

Alberto Nunez Feijoo, leader of the Popular Party, responded on Monday. He said his party would continue raising pensions in line with inflation if it wins the vote. The dispute over the scheme's future is a key issue in the upcoming campaign.