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EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2019
EMPLOYEE BENEFIT PLANS |
Schedule of changes in actuarial liabilities |
Balance at December 31, 2017 |  | 351,263
Interest on employee benefits |  | 35,920
Actuarial loss |  | 69,305
Benefits paid in the year |  | (26,061)
Balance at December 31, 2018 |  | 430,427
Business combination with Fibria (1) |  | 147,877
Interest on employee benefits |  | 44,496
Actuarial loss |  | 147,640
Benefits paid in the year |  | (34,261)
Balance on December 31, 2019 |  | 736,179
| 1) |  | Business combination with Fibria its subsidiaries held on January 3, 2019, Note 1.2.1.
Schedule of key actuarial economic and biometric assumptions used in the calculations of liability |
|  | December 31, |  | December 31,
|  | 2019 |  | 2018
Discount rate – medical assistance and life insurance |  | 3.56% p.a. |  | 4.91% p.a.
Medical cost growth rate above basic inflation |  | 3.25% p.a. |  | 3.25% p.a.
Economic inflation |  | 3.50% p.a. |  | 4.00% p.a.
Biometric table of general mortality |  | AT-2000 |  | AT-2000
Biometric table of mortality of disable persons |  | IAPB 57 |  | IAPB 57
Retirement age |  | 65 years |  | 65 years
Family composition |  | 90% married Men 4 years + old |  | 90% married Men 4 years + old
Turnover |  | 1.00% p.a. |  | 1.00% p.a.
Permanency in the plan |  | 100% |  | 100%
Aging factor |  | 0 to 24 years: 1.50% p.a 25 to 54 years: 2.50% p.a 55 to 79 years: 4.50% p.a Above 80 years: 2.50% p.a |  | 0 to 24 years: 1.50% p.a 25 to 54 years: 2.50% p.a 55 to 79 years: 4.50% p.a Above 80 years: 2.50% p.a
Summary of sensitivity analysis of actuarial liabilities | The Company made the sensitivity analysis regarding the relevant assumptions of the plans on December 31, 2019, as set forth below:
Relevant assumptions |  | Changes in premise |  | Increase in premisse |  | Decrease in premisse |
Discount rate |  | 0.50% |  | Decrease of 4.88% |  | Increase of 8.56% |
Medical costs growth rate |  | 0.50% |  | Increase of 8.27% |  | Decrease of 5.60% |
Mortality |  | 1.00% |  | Increase of 7.23% |  | Decrease of 4.40% |
Estimated inflation rate |  | 0.50% |  | No change |  | No change |
Schedule of expected benefit obligation payments for future years |
|  | Medical
|  | assistance and
Payments |  | life insurance
2020 |  | 31,458
2021 |  | 32,701
2022 |  | 33,864
2023 |  | 35,014
2024 |  | 36,122
2025 on onwards |  | 194,145

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- Definition The disclosure of information about the maturity profile of a defined benefit obligation. This will include the weighted average duration of the defined benefit obligation and may include other information about the distribution of the timing of benefit payments, such as a maturity analysis of the benefit payments. [Refer: Defined benefit obligation, at present value] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2019-01-01 -Paragraph 147 -Subparagraph c -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=19&code=ifrs-tx-2019-en-r&anchor=para_147_c&doctype=Standard -URIDate 2019-03-27 + Details
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