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Pensions and Other Post-Employment Benefits (Tables)
 12 Months Ended
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

)