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Post-employment benefits | 12 Months Ended
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Dec. 31, 2018
Text block1 [abstract] |
Post-employment benefits |
Note | 26 – Post-employment benefits
ITAÚ UNIBANCO HOLDING, through its subsidiaries, sponsors retirement plans to its employees. Retirement plans are managed by Closed-end Private Pension Entities (EFPC) and are closed to new adhesions. These entities have an independent structure and manage their plans according to the characteristics of their regulations. There are three types of retirement plans:
• |  | Defined Benefit Plans (BD): plans which scheduled benefits have their value established in advance, based on salaries and/or length of service of employees, and its cost is actuarially determined;
• |  | Defined Contribution Plans (CD): are those plans which scheduled benefits have their value permanently adjusted to the investments balance, kept in favor of the participant, including in the benefit concession phase, considering net proceedings of its investment, amounts contributed and benefits paid; and
• |  | Variable Contribution Plans (CV): in this type of plan, scheduled benefits present a combination of characteristics of defined contribution and defined benefit modalities, and the benefit is actuarially determined based on the investment accumulated by the participant on the eligibility date.
Below is a list of benefit plans and their modalities:
Entity |  | Benefit plan |  | Modality
Fundação Itaú Unibanco - Previdência Complementar |  | Supplementary retirement plan |  | Defined Benefit
| Supplementary Retirement Plan – Flexible Premium Annuity
| Franprev benefit plan – PBF
| 002 benefit plan – PB002
| Prebeg benefit plan
| UBB PREV defined benefit plan
| Benefit Plan II
| Itaulam basic plan
| Itaú Defined Benefit Plan
| REDECARD Retirement Plan
| ITAUCARD Retirement Defined Benefit Plan
| Itaubanco Defined Contribution Plan |  | Defined Contribution
| Itaubank Retirement Plan
| REDECARD Pension Plan
| Unibanco Pension Plan |  | Variable Contribution
| Itaulam Supplementary Plan
| Itaú Defined Contribution Plan
| REDECARD Retirement Plan
| ITAUCARD Supplementary Retirement Plan
FUNBEP Fundo de Pensão Multipatrocinado |  | Funbep I Benefit Plan |  | Defined Benefit Variable Contribution
| Funbep II Benefit Plan
The modality of Defined Contribution plans have funds composed by the portions of sponsors’ contributions not yet included in the participant’s account balance due to loss of eligibility to the benefit, as well as of resources arising from the migration of retirement plans in defined benefit modality. The fund is used for future contributions to the individual participants’ accounts, according to the rules of the respective benefit plan regulation.
a) | Main Actuarial Assumptions
Actuarial assumptions of demographic and financial nature should reflect the best estimated about the variables that determine the post-employment benefit amounts. The main demographic assumptions comprise: mortality table and turnover of active participants and the main financial assumptions include: discount rate, future salary increases, growth of plan benefits and inflation.
|  | 12/31/2018 |  | 12/31/2017 |  | 12/31/2016
Discount rate (1) |  | 9.72% p.a. |  | 9.98% p.a. |  | 10.24% a.a.
Mortality table (2) |  | AT-2000 |  | AT-2000 |  | AT-2000
Turnover |  | Itaú Experience 2008/2010 (3) |  | Itaú Experience 2008/2010 |  | Exp.Itaú 2008/2010
Future salary growth |  | 4.00% to 7.12 % p.a. |  | 5.04% to 7.12 % p.a. |  | 5.04% to 7.12% p.a.
Growth of the pension fund benefits |  | 4.00 % p.a. |  | 4.00 % p.a. |  | 4.00% p.a.
Inflation |  | 4.00 % p.a. |  | 4.00 % p.a. |  | 4.00% p.a.
Actuarial method |  | Projected Unit Credit |  | Projected Unit Credit |  | Cred.Unit.Projet.
(1) | Determined based on market yield related to National Treasury Notes (NTN-B) and compatible with the economic scenario observed on the balance sheet closing date, considering the volatility of interest market and models used.
(2) | Correspond to those disclosed by SOA – Society of Actuaries, that reflect a 10% increase in the probabilities of survival regarding the respective basic tables.
(3) | Updated to the new expectation of mass behavior.
Retired plans sponsored by foreign subsidiaries - Banco Itaú (Suisse) S.A., Itaú CorpBanca Colombia S.A. and PROSERV - Promociones y Servicios S.A. de C.V. - are structured as Defined Benefit modality and adopt actual assumptions adequate to masses of participants and the economic scenario of each country.
b) | Risk Management
The EFPCs sponsored by ITAÚ UNIBANCO HOLDING are regulated by the National Council for Complementary Pension (CNPC) and PREVIC, has an Executive Board, Advisory and Tax Councils. Benefits offered have long-tem characteristics and the main factors involved in the management and measurement of their risks are financial risk, inflation risk and biometric risk. - Financial Risk – the actuarial liability is calculated by adopting a discount rate different from rates earned in investments. If real income from plan investments is lower than yield expected, this may give rise to a deficit. To mitigate this risk and assure the capacity to pay long-term benefits, the plans have a significant percentage of fixed-income securities pegged to the plan commitments, aiming at minimizing volatility and risk of mismatch between assets and liabilities. - Inflation risk – a large part of liabilities is pegged to inflation risk, making actuarial liabilities sensitive to increase in rates. To mitigate this risk, the same financial risks mitigation strategies are used. - Demographic Risk – plans that have any obligation actuarially assessed are exposed to biometric risk. In the event the mortality tables used are not adherent to the mass of plan participants, a deficit or surplus may arise in actuarial evaluation. To mitigate this risk, adherence tests to biometric assumptions are conducted to ensure their adequacy to liabilities of respective plans. For purposes of registering in the balance sheet the EFPCs that manage them, actuarial liabilities of plans use discount rate adherent to its asset portfolio and income and expense flows, according to a study preparedby an independent consulting company. The actuarial method used is the aggregate method, through which the plan costing Is defined by the difference between its equity coverage and the current value of its future liabilities. Observing the methodology established in the respective actuarial technical note. In the event deficit is verified in the concession period above the settlement limits set forth by the legislation in force, a debt agreement is entered into with the sponsor with financial guarantees.
c) | Asset management
The purpose of the management of the funds is the long-term balance between pension assets and liabilities with payment of benefits by exceeding actuarial goals (discount rate plus benefit adjustment index, established in the plan regulations). Below is a table with the allocation of assets by category, segmented into Quoted in an Active Market and Not Quoted in an Active Market:
|  | Fair value |  |  | % Allocation |
Types |  | 12/31/2018 |  |  | 12/31/2017 |  |  | 12/31/2016 |  |  | 12/31/2018 |  |  | 12/31/2017 |  |  | 12/31/2016 |
Fixed income securities |  |  | 18,065 |  |  |  | 16,851 |  |  |  | 15,134 |  |  |  | 96.05 | % |  |  | 95.81 | % |  |  | 91.61 | %
Quoted in an active market |  |  | 17,775 |  |  |  | 16,281 |  |  |  | 14,751 |  |  |  | 94.51 | % |  |  | 92.57 | % |  |  | 89.29 | %
Non quoted in an active market |  |  | 290 |  |  |  | 570 |  |  |  | 383 |  |  |  | 1.54 | % |  |  | 3.24 | % |  |  | 2.32 | %
Variable income securities |  |  | 24 |  |  |  | 19 |  |  |  | 685 |  |  |  | 0.13 | % |  |  | 0.11 | % |  |  | 4.15 | %
Quoted in an active market |  |  | 18 |  |  |  | 15 |  |  |  | 681 |  |  |  | 0.09 | % |  |  | 0.09 | % |  |  | 4.12 | %
Non quoted in an active market |  |  | 6 |  |  |  | 4 |  |  |  | 4 |  |  |  | 0.04 | % |  |  | 0.02 | % |  |  | 0.03 | %
Structured investments |  |  | 59 |  |  |  | 24 |  |  |  | 9 |  |  |  | 0.31 | % |  |  | 0.14 | % |  |  | 0.05 | %
Quoted in an active market |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 0.01 | % |  |  | 0.01 | % |  |  | 0.01 | %
Non quoted in an active market |  |  | 58 |  |  |  | 23 |  |  |  | 8 |  |  |  | 0.30 | % |  |  | 0.13 | % |  |  | 0.04 | %
Real estate |  |  | 578 |  |  |  | 615 |  |  |  | 623 |  |  |  | 3.07 | % |  |  | 3.49 | % |  |  | 3.77 | %
Loans to participants |  |  | 82 |  |  |  | 79 |  |  |  | 69 |  |  |  | 0.44 | % |  |  | 0.45 | % |  |  | 0.42 | %
Total |  |  | 18,808 |  |  |  | 17,588 |  |  |  | 16,520 |  |  |  | 100.00 | % |  |  | 100.00 | % |  |  | 100.00 | %
The defined benefit plan assets include shares of ITAÚ UNIBANCO HOLDING, its main parent company (ITAÚSA) and of subsidiaries of the latter, with a fair value of R$ 11 (R$ 12 at 12/31/2017), and real estate rented to Group companies, with a fair value of R$ 487 (R$ 531 at 12/31/2017).
d) | Other post-employment benefits
ITAÚ UNIBANCO HOLDING and its subsidiaries do not have additional liabilities related to post-employment benefits, except in cases arising from maintenance commitments assumed in acquisition agreements occurred over the years, as well as those benefits originated from judicial decision in the terms and conditions established, in which there is total or partial sponsorship of health care plan for a specific mass of former employees and their beneficiaries. Its costing is actuarially determined so as to ensure coverage maintenance. These plans are closed to new adhesions. Assumptions for discount rate, inflation, mortality table and actuarial method are the same used for retirement plans. In the last 3 years, ITAÚ UNIBANCO HOLDING used the percentage of 8.16% p.a. for medical inflation and the percentage of 3% p.a. for aging factor. Particularly in other post-employment benefits, there is medical inflation risk associated to increase in medical costs above expectation. To mitigate this risk, the same financial risks mitigation strategies are used.
e) | Net amount recognized in the balance sheet
Following is the calculation of the net amount recognized in the balance sheet, corresponding to the defined benefit plan:
|  | 12/31/2018 |
|  | BD and CV Plans |  |  | CD Plans |  |  | Other post- employment benefits |  |  | Total |
1 - Net assets of the plans |  |  | 18,808 |  |  |  | 1,604 |  |  |  | 0 |  |  |  | 20,412 |
2 - Actuarial liabilities |  |  | (15,493 | ) |  |  | 0 |  |  |  | (282 | ) |  |  | (15,775 | )
3 - Asset restriction (*) |  |  | (3,664 | ) |  |  | (939 | ) |  |  | 0 |  |  |  | (4,603 | )
4 - Net amount recognized in the balance sheet (1+2+3) |  |  | (349 | ) |  |  | 665 |  |  |  | (282 | ) |  |  | 34 |
Amount recognized in Assets (Note 18a) |  |  | 66 |  |  |  | 665 |  |  |  | 0 |  |  |  | 731 |
Amount recognized in Liabilities (Note 18b) |  |  | (415 | ) |  |  | 0 |  |  |  | (282 | ) |  |  | (697 | )
|  | 12/31/2017 |
|  | BD and CV Plans |  |  | CD Plans |  |  | Other post- employment benefits |  |  | Total |
1 - Net assets of the plans |  |  | 17,588 |  |  |  | 1,634 |  |  |  | — |  |  |  | 19,222 |
2 - Actuarial liabilities |  |  | (14,491 | ) |  |  | — |  |  |  | (257 | ) |  |  | (14,748 | )
3 - Asset restriction (*) |  |  | (3,217 | ) |  |  | (912 | ) |  |  | — |  |  |  | (4,129 | )
4 - Net amount recognized in the balance sheet (1+2+3) |  |  | (120 | ) |  |  | 722 |  |  |  | (257 | ) |  |  | 345 |
Amount recognized in Assets (Note 18a) |  |  | 345 |  |  |  | 722 |  |  |  | — |  |  |  | 1,067 |
Amount recognized in Liabilities (Note 18b) |  |  | (465 | ) |  |  | — |  |  |  | (257 | ) |  |  | (722 | )
|  | 12/31/2016 |
|  | BD and CV Plans |  |  | CD Plans |  |  | Other post- employment benefits |  |  | Total |
1 - Net assets of the plans |  |  | 16,520 |  |  |  | 1,287 |  |  |  | — |  |  |  | 17,807 |
2 - Actuarial liabilities |  |  | (13,723 | ) |  |  | — |  |  |  | (221 | ) |  |  | (13,944 | )
3 - Asset restriction (*) |  |  | (3,008 | ) |  |  | (491 | ) |  |  | — |  |  |  | (3,499 | )
4 - Net amount recognized in the balance sheet (1+2+3) |  |  | (211 | ) |  |  | 796 |  |  |  | (221 | ) |  |  | 364 |
Amount recognized in Assets (Note 18a) |  |  | 317 |  |  |  | 796 |  |  |  | — |  |  |  | 1,113 |
Amount recognized in Liabilities (Note 18b) |  |  | (528 | ) |  |  | — |  |  |  | (221 | ) |  |  | (749 | )
(*) | Corresponds to the excess of the present value of the available economic benefit, in conformity with paragraph 58 of IAS 19.
f) | Change in the net amount recognized in the balance sheet
|  | 12/31/2018 |
|  | BD and CV plans |  |  | CD plans |  |  | Ohter post- employment benefit |  |  | Total |
|  | Net assets |  |  | Actuarial liabilities |  |  | Asset ceiling |  |  | Recognized amount |  |  | Pension plan fund |  |  | Asset ceiling |  |  | Recognized amount |  |  | Liabilities |  |  | Recognized amount |
Amounts at the beginning of the period |  |  | 17,588 |  |  |  | (14,491 | ) |  |  | (3,217 | ) |  |  | (120 | ) |  |  | 1,634 |  |  |  | (912 | ) |  |  | 722 |  |  |  | (257 | ) |  |  | 345 |
Amounts recognized in income (loss) (1+2+3) |  |  | 1,700 |  |  |  | (1,454 | ) |  |  | (321 | ) |  |  | (75 | ) |  |  | 157 |  |  |  | (90 | ) |  |  | 67 |  |  |  | (25 | ) |  |  | (33 | )
1 - Cost of current service |  |  | 0 |  |  |  | (69 | ) |  |  | 0 |  |  |  | (69 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (69 | )
2 - Cost of past service |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
3 - Net interest (1) |  |  | 1,700 |  |  |  | (1,385 | ) |  |  | (321 | ) |  |  | (6 | ) |  |  | 157 |  |  |  | (90 | ) |  |  | 67 |  |  |  | (25 | ) |  |  | 36 |
Amounts recognized in stockholders’ equity (4+5+6) |  |  | 580 |  |  |  | (688 | ) |  |  | (126 | ) |  |  | (234 | ) |  |  | (102 | ) |  |  | 63 |  |  |  | (39 | ) |  |  | (19 | ) |  |  | (292 | )
4 - Effects on asset ceiling |  |  | 0 |  |  |  | 0 |  |  |  | (126 | ) |  |  | (126 | ) |  |  | 0 |  |  |  | 63 |  |  |  | 63 |  |  |  | 0 |  |  |  | (63 | )
5 - Remeasurements (2) (3) |  |  | 566 |  |  |  | (683 | ) |  |  | 0 |  |  |  | (117 | ) |  |  | (102 | ) |  |  | 0 |  |  |  | (102 | ) |  |  | (19 | ) |  |  | (238 | )
6 - Exchange variation |  |  | 14 |  |  |  | (5 | ) |  |  | 0 |  |  |  | 9 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 9 |
Other (7+8+9+10) |  |  | (1,060 | ) |  |  | 1,140 |  |  |  | 0 |  |  |  | 80 |  |  |  | (85 | ) |  |  | 0 |  |  |  | (85 | ) |  |  | 19 |  |  |  | 14 |
7 - Receipt by allocation of funds (4) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
8 - Benefits paid |  |  | (1,140 | ) |  |  | 1,140 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 19 |  |  |  | 19 |
9 - Contributions from sponsor |  |  | 69 |  |  |  | 0 |  |  |  | 0 |  |  |  | 69 |  |  |  | (85 | ) |  |  | 0 |  |  |  | (85 | ) |  |  | 0 |  |  |  | (16 | )
10 - Contributions from parcipants |  |  | 11 |  |  |  | 0 |  |  |  | 0 |  |  |  | 11 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 11 |
Amounts end of the period |  |  | 18,808 |  |  |  | (15,493 | ) |  |  | (3,664 | ) |  |  | (349 | ) |  |  | 1,604 |  |  |  | (939 | ) |  |  | 665 |  |  |  | (282 | ) |  |  | 34 |
|  | 12/31/2017 |
|  | BD and CV plans |  |  | CD plans |  |  | Ohter post- employment benefit |  |  | Total |
|  | Net assets |  |  | Actuarial liabilities |  |  | Asset ceiling |  |  | Recognized amount |  |  | Pension plan fund |  |  | Asset ceiling |  |  | Recognized amount |  |  | Liabilities |  |  | Recognized amount |
Amounts at the beginning of the period |  |  | 16,520 |  |  |  | (13,723 | ) |  |  | (3,008 | ) |  |  | (211 | ) |  |  | 1,287 |  |  |  | (491 | ) |  |  | 796 |  |  |  | (221 | ) |  |  | 364 |
Amounts recognized in income (loss) (1+2+3) |  |  | 1,639 |  |  |  | (1,416 | ) |  |  | (307 | ) |  |  | (84 | ) |  |  | 126 |  |  |  | (50 | ) |  |  | 76 |  |  |  | (22 | ) |  |  | (30 | )
1 - Cost of current service |  |  | — |  |  |  | (69 | ) |  |  | — |  |  |  | (69 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (69 | )
2 - Cost of past service |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
3 - Net interest (1) |  |  | 1,639 |  |  |  | (1,347 | ) |  |  | (307 | ) |  |  | (15 | ) |  |  | 126 |  |  |  | (50 | ) |  |  | 76 |  |  |  | (22 | ) |  |  | 39 |
Amounts recognized in stockholders’ equity (4+5+6) |  |  | 487 |  |  |  | (493 | ) |  |  | 98 |  |  |  | 92 |  |  |  | 324 |  |  |  | (371 | ) |  |  | (47 | ) |  |  | (28 | ) |  |  | 17 |
4 - Effects on asset ceiling |  |  | — |  |  |  | — |  |  |  | 97 |  |  |  | 97 |  |  |  | (15 | ) |  |  | (371 | ) |  |  | (386 | ) |  |  | — |  |  |  | (289 | )
5 - Remeasurements (2) (3) |  |  | 485 |  |  |  | (487 | ) |  |  | 1 |  |  |  | (1 | ) |  |  | 339 |  |  |  | — |  |  |  | 339 |  |  |  | (28 | ) |  |  | 310 |
6 - Exchange variation |  |  | 2 |  |  |  | (6 | ) |  |  | — |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (4 | )
Other (7+8+9+10) |  |  | (1,058 | ) |  |  | 1,141 |  |  |  | — |  |  |  | 83 |  |  |  | (103 | ) |  |  | — |  |  |  | (103 | ) |  |  | 14 |  |  |  | (6 | )
7 - Receipt by allocation of funds (4) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (12 | ) |  |  | — |  |  |  | (12 | ) |  |  | — |  |  |  | (12 | )
8 - Benefits paid |  |  | (1,141 | ) |  |  | 1,141 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14 |  |  |  | 14 |
9 - Contributions from sponsor |  |  | 71 |  |  |  | — |  |  |  | — |  |  |  | 71 |  |  |  | (91 | ) |  |  | — |  |  |  | (91 | ) |  |  | — |  |  |  | (20 | )
10 - Contributions from parcipants |  |  | 12 |  |  |  | — |  |  |  | — |  |  |  | 12 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12 |
Amounts end of the period |  |  | 17,588 |  |  |  | (14,491 | ) |  |  | (3,217 | ) |  |  | (120 | ) |  |  | 1,634 |  |  |  | (912 | ) |  |  | 722 |  |  |  | (257 | ) |  |  | 345 |
|  | 12/31/2016 |
|  | BD and CV plans |  |  | CD plans |  |  | Ohter post- employment benefit |  |  | Total |
|  | Net assets |  |  | Actuarial liabilities |  |  | Asset ceiling |  |  | Recognized amount |  |  | Pension plan fund |  |  | Asset ceiling |  |  | Recognized amount |  |  | Liabilities |  |  | Recognized amount |
Amounts at the beginning of the period |  |  | 13,633 |  |  |  | (11,587 | ) |  |  | (2,134 | ) |  |  | (88 | ) |  |  | 2,229 |  |  |  | (270 | ) |  |  | 1,959 |  |  |  | (179 | ) |  |  | 1,692 |
Amounts recognized in income (loss) (1+2+3) |  |  | 1,483 |  |  |  | (1,317 | ) |  |  | (241 | ) |  |  | (75 | ) |  |  | 269 |  |  |  | (30 | ) |  |  | 239 |  |  |  | (19 | ) |  |  | 145 |
1 - Cost of current service |  |  | — |  |  |  | (62 | ) |  |  | — |  |  |  | (62 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (62 | )
2 - Cost of past service |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
3 - Net interest (1) |  |  | 1,483 |  |  |  | (1,255 | ) |  |  | (241 | ) |  |  | (13 | ) |  |  | 269 |  |  |  | (30 | ) |  |  | 239 |  |  |  | (19 | ) |  |  | 207 |
Amounts recognized in stockholders’ equity (4+5+6) |  |  | 2,300 |  |  |  | (1,672 | ) |  |  | (633 | ) |  |  | (5 | ) |  |  | (817 | ) |  |  | (191 | ) |  |  | (1,008 | ) |  |  | (36 | ) |  |  | (1,049 | )
4 - Effects on asset ceiling |  |  | — |  |  |  | — |  |  |  | (633 | ) |  |  | (633 | ) |  |  | (1,053 | ) |  |  | (191 | ) |  |  | (1,244 | ) |  |  | — |  |  |  | (1,877 | )
5 - Remeasurements (2) (3) |  |  | 2,308 |  |  |  | (1,715 | ) |  |  | — |  |  |  | 593 |  |  |  | 236 |  |  |  | — |  |  |  | 236 |  |  |  | (36 | ) |  |  | 793 |
6 - Exchange variation |  |  | (8 | ) |  |  | 43 |  |  |  | — |  |  |  | 35 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 35 |
Other (7+8+9+10) |  |  | (896 | ) |  |  | 853 |  |  |  | — |  |  |  | (43 | ) |  |  | (394 | ) |  |  | — |  |  |  | (394 | ) |  |  | 13 |  |  |  | (424 | )
7 - Receipt by allocation of funds (4) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (515 | ) |  |  | — |  |  |  | (515 | ) |  |  | — |  |  |  | (515 | )
8 - Benefits paid |  |  | (1,060 | ) |  |  | 1,060 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13 |  |  |  | 13 |
9 - Contributions from sponsor |  |  | 149 |  |  |  | — |  |  |  | — |  |  |  | 149 |  |  |  | 121 |  |  |  | — |  |  |  | 121 |  |  |  | — |  |  |  | 270 |
10 - Contributions from parcipants |  |  | 15 |  |  |  | — |  |  |  | — |  |  |  | 15 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 15 |
11 - Balance arising from the CorpBanca acquisition (Note 3) |  |  | — |  |  |  | (207 | ) |  |  | — |  |  |  | (207 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (207 | )
Amounts end of the period |  |  | 16,520 |  |  |  | (13,723 | ) |  |  | (3,008 | ) |  |  | (211 | ) |  |  | 1,287 |  |  |  | (491 | ) |  |  | 796 |  |  |  | (221 | ) |  |  | 364 |
(1) | Corresponds to the amount calculated at 01/01/2018 based on the beginning amount (Net Assets, Actuarial Liabilities and Restriction of Assets), taking into account the estimated amount of payments/ receipts of benefits/ contributions, multiplied by the discount rate of 9.98% p.a.(at 01/01/2017 the rate used was 10.24% p.a.);
(2) | Remeasurements recorded in net assets and asset ceiling correspond to the income earned above/below the expected return rate;
(3) | The actual return on assets amounted to R$ 2,266 (R$ 2,124 at 12/31/2017).
(4) | Refers to distribution of excess pension fund from Itaubanco CD Plan.
g) | Defined benefit contribution
|  | Estimated contribution |  |  | Contributions made |
|  | 2019 |  |  | 01/01 to 12/31/2018 |  |  | 01/01 to 12/31/2017 |  |  | 01/01 to 12/31/2016 |
Pension plan - FIU |  |  | 47 |  |  |  | 58 |  |  |  | 58 |  |  |  | 78 |
Pension plan - FUNBEP |  |  | 10 |  |  |  | 11 |  |  |  | 14 |  |  |  | 71 |
Total |  |  | 57 |  |  |  | 69 |  |  |  | 72 |  |  |  | 149 |
h) | Maturity profile of defined benefit liabilities
|  | Duration (*) |  |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2023 |  |  | 2024 to 2028 |
Pension plan - FIU |  |  | 10.88 |  |  |  | 799 |  |  |  | 824 |  |  |  | 859 |  |  |  | 894 |  |  |  | 929 |  |  |  | 5,184 |
Pension plan - FUNBEP |  |  | 10.09 |  |  |  | 370 |  |  |  | 387 |  |  |  | 404 |  |  |  | 420 |  |  |  | 435 |  |  |  | 2,362 |
Other post-employment benefits |  |  | 12.02 |  |  |  | 17 |  |  |  | 18 |  |  |  | 19 |  |  |  | 20 |  |  |  | 21 |  |  |  | 127 |
Total |  |  |  |  |  |  | 1,186 |  |  |  | 1,229 |  |  |  | 1,282 |  |  |  | 1,334 |  |  |  | 1,385 |  |  |  | 7,673 |
(*) | Average duration of plan´s actuarial liabilities.
i) | Sensitivity analysis
To measure the effects of changes in the key assumptions, sensitivity tests were conducted in actuarial liabilities. The sensitivity analysis considers a vision of the impacts caused by changes in assumptions, which could affect the income for the period and stockholders’ equity at the balance sheet date. This type of analysis is usually carried out under the ceteris paribus condition, in which the sensitivity of a system is measured when only one variable of interest is changed and all the others remain unchanged. The results obtained are shown in the table below:
|  | BD and CV pension plans |  |  | Other post-employment benefits |
Main assumptions |  | Present value of liability |  |  | Income |  |  | Stockholders’ equity (*) |  |  | Present value of liability |  |  | Income |  |  | Stockholders’ equity (*) |
Interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Increase by 0,5% |  |  | (718 | ) |  |  | — |  |  |  | 76 |  |  |  | (15 | ) |  |  | — |  |  |  | (15 | )
Decrease by 0,5% |  |  | 782 |  |  |  | — |  |  |  | (250 | ) |  |  | 17 |  |  |  | — |  |  |  | 17 |
Mortality rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Increase by 5% |  |  | (160 | ) |  |  | — |  |  |  | 45 |  |  |  | (6 | ) |  |  | — |  |  |  | (6 | )
Decrease by 5% |  |  | 167 |  |  |  | — |  |  |  | (48 | ) |  |  | 7 |  |  |  | — |  |  |  | 7 |
Medical inflation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Increase by 1% |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 33 |  |  |  | — |  |  |  | 33 |
Decrease by 1% |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (28 | ) |  |  | — |  |  |  | (28 | )
(*) | Net of effects of asset ceiling

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