the Kremlin By 2024, when the pension-age increase could be fully imposed, government forecasts put life expectancy at only 70 for men and 80 for women. (Photo: Shutterstock)

(Bloomberg) –Vladimir Putin promised Russians this week that he would make retirement richer. What he didn’t say was that he’s going to make it shorter, too.

The Kremlin and the government have agreed on the outlines of a plan that would see the retirement age for men raised by five years to 65 and for women by eight to 63, according to two people familiar with the preparations who spoke on condition of anonymity to discuss confidential matters. The changes could begin as early as 2019, phasing in over a period of five years or more.

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