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Pensions and Other Post-Employment Benefits (Tables) | 12 Months Ended
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Dec. 31, 2020
Pensions And Other Post Employment Benefits [Abstract] |
Summary of Defined Benefit and OPEB Plan Obligation and Funded Status | A) Defined Benefit and OPEB Plan Obligation and Funded Status Information related to defined benefit pension and OPEB plans, based on actuarial estimations, is:
| Pension Benefits |  |  | OPEB |
As at December 31, | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Defined Benefit Obligation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Defined Benefit Obligation, Beginning of Year |  | 158 |  |  |  | 167 |  |  |  | 22 |  |  |  | 21 |
Current Service Costs |  | 13 |  |  |  | 11 |  |  |  | 1 |  |  |  | 1 |
Interest Costs (1) |  | 5 |  |  |  | 6 |  |  |  | - |  |  |  | 1 |
Benefits Paid |  | (6 | ) |  |  | (36 | ) |  |  | (2 | ) |  |  | (2 | )
Plan Participant Contributions |  | 2 |  |  |  | 2 |  |  |  | - |  |  |  | - |
Re-measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Gains) Losses From Experience Adjustments |  | 1 |  |  |  | (4 | ) |  |  | (2 | ) |  |  | - |
(Gains) Losses From Changes in Financial Assumptions |  | 15 |  |  |  | 12 |  |  |  | 1 |  |  |  | 1 |
Defined Benefit Obligation, End of Year |  | 188 |  |  |  | 158 |  |  |  | 20 |  |  |  | 22 |
Plan Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair Value of Plan Assets, Beginning of Year |  | 107 |  |  |  | 113 |  |  |  | - |  |  |  | - |
Employer Contributions |  | 6 |  |  |  | 9 |  |  |  | - |  |  |  | - |
Plan Participant Contributions |  | 2 |  |  |  | 2 |  |  |  | - |  |  |  | - |
Benefits Paid |  | (5 | ) |  |  | (35 | ) |  |  | - |  |  |  | - |
Interest Income (1) |  | 2 |  |  |  | 3 |  |  |  | - |  |  |  | - |
Re-measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Return on Plan Assets (Excluding Interest Income) |  | 5 |  |  |  | 15 |  |  |  | - |  |  |  | - |
Fair Value of Plan Assets, End of Year |  | 117 |  |  |  | 107 |  |  |  | - |  |  |  | - |
Pension and OPEB (Liability) (2) |  | (71 | ) |  |  | (51 | ) |  |  | (20 | ) |  |  | (22 | )
(1) | Based on the discount rate of the defined benefit obligation at the beginning of the year.
(2) | Pension and OPEB liabilities are included in other liabilities on the Consolidated Balance Sheets.
Summary of Pension and OPEB Costs | B) Pension and OPEB Costs
| Pension Benefits |  |  | OPEB |
For the years ended December 31, | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2020 |  |  | 2019 |  |  | 2018 |
Defined Benefit Plan Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Service Costs |  | 13 |  |  |  | 11 |  |  |  | 13 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |
Past Service Costs – Curtailments |  | - |  |  |  | - |  |  |  | (2 | ) |  |  | - |  |  |  | - |  |  |  | - |
Net Interest Costs |  | 3 |  |  |  | 3 |  |  |  | 3 |  |  |  | - |  |  |  | 1 |  |  |  | 1 |
Re-measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Return on Plan Assets (Excluding Interest Income) |  | (5 | ) |  |  | (15 | ) |  |  | 7 |  |  |  | - |  |  |  | - |  |  |  | - |
(Gains) Losses From Experience Adjustments |  | 1 |  |  |  | (4 | ) |  |  | - |  |  |  | (2 | ) |  |  | - |  |  |  | - |
(Gains) Losses From Changes in Financial Assumptions |  | 15 |  |  |  | 12 |  |  |  | - |  |  |  | 1 |  |  |  | 1 |  |  |  | (1 | )
Defined Benefit Plan Cost (Recovery) |  | 27 |  |  |  | 7 |  |  |  | 21 |  |  |  | - |  |  |  | 3 |  |  |  | 1 |
Defined Contribution Plan Cost |  | 22 |  |  |  | 21 |  |  |  | 22 |  |  |  | - |  |  |  | - |  |  |  | - |
Total Plan Cost |  | 49 |  |  |  | 28 |  |  |  | 43 |  |  |  | - |  |  |  | 3 |  |  |  | 1 |
Summary of Fair Value of the Plan Assets | The fair value of the plan assets is:
As at December 31, | 2020 |  |  | 2019 |
Equity Funds |  | 58 |  |  |  | 59 |
Fixed Income Funds |  | 35 |  |  |  | 35 |
Real Estate Funds |  | 6 |  |  |  | - |
Listed Infrastructure Funds |  | 8 |  |  |  | 9 |
Emerging Market Debt Funds |  | 7 |  |  |  | - |
Non-Invested Assets |  | 1 |  |  |  | 2 |
Cash and Cash Equivalents |  | 2 |  |  |  | 2 |
|  | 117 |  |  |  | 107 |
Summary of principal weighted average actuarial assumptions used to determine benefit obligations and expenses | The principal weighted average actuarial assumptions used to determine benefit obligations and expenses are as follows:
| Pension Benefits |  |  | OPEB |
For the years ended December 31, | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2020 |  |  | 2019 |  |  | 2018 |
Discount Rate |  | 2.50 | % |  |  | 3.00 | % |  |  | 3.50 | % |  |  | 2.50 | % |  |  | 3.00 | % |  |  | 3.50 | %
Future Salary Growth Rate |  | 3.97 | % |  |  | 3.94 | % |  |  | 3.88 | % |  |  | 4.94 | % |  |  | 5.08 | % |  |  | 5.08 | %
Average Longevity (years) |  | 88.3 |  |  |  | 88.2 |  |  |  | 88.2 |  |  |  | 88.2 |  |  |  | 88.2 |  |  |  | 88.1 |
Health Care Cost Trend Rate | N/A |  |  | N/A |  |  | N/A |  |  |  | 6.00 | % |  |  | 6.00 | % |  |  | 6.00 | %
Sensitivity of defined benefit and OPEB obligation to changes in relevant actuarial assumptions | The sensitivity of the defined benefit and OPEB obligation to changes in relevant actuarial assumptions is:
| 2020 |  |  | 2019 |
As at December 31, | Increase |  |  | Decrease |  |  | Increase |  |  | Decrease |
One Percent Change: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount Rate |  | (31 | ) |  |  | 40 |  |  |  | (25 | ) |  |  | 32 |
Future Salary Growth Rate |  | 4 |  |  |  | (4 | ) |  |  | 3 |  |  |  | (3 | )
Health Care Cost Trend Rate |  | 1 |  |  |  | (1 | ) |  |  | 1 |  |  |  | (1 | )
One Year Change in Assumed Life Expectancy |  | 4 |  |  |  | (4 | ) |  |  | 3 |  |  |  | (3 | )

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