According to media reports from Al Jazeera, AFP, and other sources, approximately 25,000 people gathered on the streets of Madrid, the capital of Spain, on October 24 local time, demanding that the government ensure the country's pension system.
The demonstrators who participated in the parade that day set off from Atocha train station and marched along Gran Vía Madrid, the most bustling and famous avenue in Madrid.
Many protesters carried banners that read “Protect and ensure our pensions.” They demanded that pensions continue to be linked to inflation, and called for eliminating the gender gap in pensions.
Reports indicate that multiple factors are putting pressure on Spain's pension system, including an aging population, low fertility rates, and a decreasing ratio of employed workers to pension recipients.
Protesters march in Madrid AP
Spain will hold parliamentary elections next month, and issues such as the sustainability of the pension system and living costs have become hot topics.
At the beginning of this month, Ester Munoz, a spokesperson for Spain’s largest opposition party, the conservative People’s Party, predicted that the current pension system would collapse and called for reforms. Spain’s Prime Minister Sánchez accused the People’s Party of attempting to weaken the mechanism that links pensions to inflation increases.
However, PDP leader Alverto Núñez Fejo said on the 19th that if the PDP wins the election, they will continue to raise pensions according to the inflation rate.
According to reports, approximately 6.8 million Spaniards are receiving state pensions. According to data from the Spanish Ministry of Social Affairs, as of September this year, the average monthly pension amount was 1,576 euros (approximately 12,000 yuan). The number of people receiving pensions continues to increase, and monthly pension expenditures are rising. This system is becoming increasingly dependent on state financial funding to function.
