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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2020

EMPLOYEE BENEFIT PLANS

Schedule of changes in actuarial liabilities

Balance at December 31, 2018		430,427
Business combination		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
Interest on employee benefits		53,092
Actuarial loss/gain		33,843
Employee contribution		(88)
Exchange rate variation		487
Benefits paid in the year		(38,468)
Balance on December 31, 2020		785,045

Schedule of key actuarial economic and biometric assumptions used in the calculations of liability

		December 31,		December 31,
		2020		2019
Economic
Discount rate – medical assistance and life insurance		4.39% p.a.		3.56% p.a.
Medical cost growth rate		3.25% p.a.		3.25% p.a.
Nominal inflation		3.25% p.a.		3.50% p.a.
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.
Biometric
Table of general mortality		AT-2000		AT-2000
Table of mortality of disable persons		IAPB 57		IAPB 57
Table of entry of disable		Mercer Disability		Mercer Disability
Turnover		1.00% p.a.		1.00% p.a.
Other
Retirement age		65 years		65 years
		90% married		90% married
Family composition		Men 4 years + old		Men 4 years + old
Permanency in the plan		100%		100%

Summary of sensitivity analysis of actuarial liabilities

The Company made the sensitivity analysis regarding the relevant assumptions of the plans on December 31, 2020, as set forth below:

Relevant assumptions		Changes in premise		Increase in present value, net		Decrease in present value, net
Discount rate		0.50%		Decrease of R$729,203		Increase of R$824,894
Medical costs growth rate		1.00%		Increase of R$876,554		Decrease of 689,324

Schedule of expected benefit obligation payments for future years

		Medical
		assistance and
Payments		life insurance
2021		35,658
2022		38,228
2023		40,886
2024		43,640
2025		46,409
2026 on onwards		274,822

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The disclosure of defined benefit plans. [Refer: Defined benefit plans [member]]

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