Spanish retirees rallied in Madrid to demand an increase in public pension payouts yesterday afternoon (September 23).

Footage shows hundreds of protesters marching in the streets of the Spanish capital.

Organisers of the rally, which includes the biggest workers’ unions in Spain, complain the former government's 0.25 percent increase fails to keep up with inflation.

Experts have warned about the future of Spain’s pension system as the population ages, with fewer workers contributing to the national pension fund as the number of retirees rises.

According to figures released by the Spanish Government, 139 billion euros (£125 billion) was paid last year in state pensions.