Sanchez and Feijoo Trade Blows Over Spain's Record Pension Bill

Prime Minister Pedro Sanchez and opposition leader Alberto Nunez Feijoo are clashing over the future of Spain's state pensions as the monthly cost hits a record high.

The dispute intensified after nearly 25,000 people marched from Atocha station to the Gran Via in Madrid on Saturday. Participants traveled from across the country to join the rally, which took place in the lead-up to next month's general election. Many held banners demanding that pensions be protected and guaranteed.

Protesters expressed concern that the pension system could be weakened depending on the election outcome. They specifically called for benefits to remain indexed to inflation and for the elimination of the gender pension gap. Emilio Delgado, deputy spokesperson for the left-wing party Mas Madrid in the Assembly of Madrid, supported the movement on X. He stated that no pension should fall below the minimum wage and that a lifetime of work deserves a dignified retirement.

The pension system faces pressure from an aging population, low birth rates, and stagnant wages. The ratio of workers to pensioners is declining, forcing the state to fund a growing share of payments. Spain's monthly pension bill reached almost 14.5 billion euros, or 16.2 billion dollars, this year. This record cost reflects the increasing reliance on state funding as the number of pensioners rises and monthly payments grow.

Sanchez has accused the right-wing Popular Party of planning to reduce inflation-linked pension increases if they win the vote. He pledged to protect the current system if he remains in office, arguing that it is affordable. Nunez Feijoo responded on Monday that he would continue raising pensions in line with inflation if his party takes power.