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23 Post-employment Benefits | 12 Months Ended
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Dec. 31, 2020
Post-employment Benefits |
Post-employment Benefits |
23 | Post-employment Benefits
The Company sponsors private retirement and pension plans (Unified Plan and Plan III) and Healthcare Plan for medical and dental care ("ProSaúde II" and "ProSaúde III" Plans) for their active employees and their legal dependents. The lifetime sponsorship of the Healthcare Plan for retirees, pensioners and legal dependents is only applied to "Prosaúde II" plan participants. Fundação Copel de Previdência e Assistência is the entity that manages these plans. On March 17, 2021, the Board of Directors approved the signing of assistance agreements for maintaining the Prosaúde II and Prosaúde III plans, managed by Fundação Copel.
23.1 | Pension plan
The Unified Plan is a Defined Benefit plan - BD in which the income is predetermined, according to each individual's salary. This plan is closed for new participants since 1998. The Plan III is a Variable Contribution plan - CV, being the only plan available for new participants.
23.2 | Healthcare Plan
The Company allocate resources for the coverage of healthcare expenses incurred by their employees and their dependents, within rules, limits and conditions set in "ProSaúde II" and "ProSaúde III" Plans' regulations. Coverage includes periodic medical exams in both plans and is extended to all retirees and pensioners for life only in the "ProSaúde II" plan.
23.3 | Balance sheet and statement of income
Amounts recognized in liabilities, under Post-employment benefits, are summarized below:
| 12.31.2020 | 12.31.2019
Pension plans | 1,124 | 1,537
Healthcare plans | 1,492,490 | 1,193,399
| 1,493,614 | 1,194,936
Current | 69,231 | 66,004
Noncurrent | 1,424,383 | 1,128,932
The increase in the balance is due to the actuarial assessment of the future benefits of the Health Plan II due to the increase in the projected medical costs, impact of the discount rate and inflation, as well as an increase in the Aging Factor between the retirement age and the last range of participants above 80 years old. Amounts recognized in the statement of income are shown below:
| 12.31.2020 | 12.31.2019 | 12.31.2018
Employees |  |  |
Pension plans | 57,977 | 60,754 | 67,457
Healthcare plan - post employment | 94,349 | 99,577 | 97,866
Healthcare plan - active employees | 75,192 | 76,454 | 76,702
| 227,518 | 236,785 | 242,025
Management |  |  |
Pension plans | 977 | 1,450 | 1,598
Healthcare plan | 139 | 91 | 127
| 1,116 | 1,541 | 1,725
| 228,634 | 238,326 | 243,750
23.4 | Changes in post-employment benefits
Balance as of January 1, 2019 | 968,763
Appropriation of actuarial calculation | 99,578
Appropriation of pension and healthcare contributions | 138,974
Adjustment related to actuarial gains (loss) | 186,628
Amortizations | (199,007)
Balance as of December 31, 2019 | 1,194,936
Appropriation of actuarial calculation | 94,349
Appropriation of pension and healthcare contributions | 130,129
Adjustment related to actuarial gains | 271,343
Amortizations | (197,143)
Balance as of December 31, 2020 | 1,493,614
23.5 | Actuarial valuation in accordance with IAS 19
23.5.1 | Actuarial assumptions
The actuarial assumptions used to determine the amounts of liabilities and costs for 2020 and 2019 are shown below:
|  | 2020 |  | 2019
| Real | Nominal | Real | Nominal
Economic |  |  |  |
Inflation p.y. | - | 4.00% | - | 2.90%
Expected rate of discount/return p.y. |  |  |  |
Unified Plan - Defined Benefit | 2.85% | 6.96% | 3.05% | 6.04%
Unified Plan - Balance | 3.20% | 7.33% | 3.20% | 6.19%
Plan III | 3.40% | 7.54% | 3.20% | 6.19%
Assistance Plan | 3.20% | 7.33% | 3.30% | 6.30%
Salary growth |  |  |  |
Unified Plan p.y. | 0.00% | 4.00% | 1.00% | 3.93%
Plan III p.y. | 1.00% | 5.04% | 1.00% | 3.93%
Demographic |  |  |  |
Mortality Table |  | AT - 2000 |  | AT - 2000
Mortality table of individuals with permanent disability |  | WINKLEVOSS |  | WINKLEVOSS
Table of new disability benef it vested |  | TASA 1927 |  | TASA 1927
23.5.2 | Number of participants and beneficiaries
| Social Security Plans |
| Unified Plan | Plan III | Assistance Plan
| 12.31.2020 | 12.31.2019 | 12.31.2020 | 12.31.2019 | 12.31.2020 | 12.31.2019
Number of active participants | 22 | 27 | 7,401 | 7,647 | 6,546 | 6,963
Number of Inactive participants | 4,274 | 4,337 | 4,633 | 4,324 | 9,032 | 8,433
Number of dependent people | - | - | - | - | 21,716 | 22,183
Total | 4,296 | 4,364 | 12,034 | 11,971 | 37,294 | 37,579
23.5.3 | Life expectancy after the average age of participants - Annuity Table AT-2000 (in years)
| Unified Plan | Plan III
As of 12.31.2020 |  |
Retired participants | 12.38 | 23.16
Pensioner participants | 14.07 | 24.98
As of 12.31.2019 |  |
Retired participants | 13.13 | 25.84
Pensioner participants | 8.40 | 25.84
The average age of inactive participants of the healthcare and pension plans of the Company is 68.1 and 67.2 years, respectively.
23.5.4 | Actuarial evaluation
Based on the revision of the assumptions, the amounts of the Unified Plan and Plan III as of December 31, 2020 totaled surplus of R$ 807,444 and R$ 285,057, respectively and surplus of R$ 908,294 and R$ 91,218, respectively as of December 31, 2019. Applicable ruling legislation does not allow any significant reduction in contributions or refunds to the Company based on the current surplus of these plans. For this reason, the Company did not record assets in its balance sheet as of December 31, 2020, reflecting any right to reduce contributions, refund of surplus or other amounts.
| Unified Plan | Plan III | Assistance Plan | 12.31.2020 | 12.31.2019
Total liabilities or partially covered | 6,760,824 | 3,344,723 | 1,714,638 | 11,820,185 | 11,074,608
Fair value of the plan assets | (7,568,268) | (3,629,780) | (222,148) | (11,420,196) | (10,880,721)
Plan coverage status | (807,444) | (285,057) | 1,492,490 | 399,989 | 193,887
Unrecognized asset | 807,444 | 285,057 | - | 1,092,501 | 999,512
| - | - | 1,492,490 | 1,492,490 | 1,193,399
The Company adjusted their assistance liabilities through the actuarial report issued on December 31, 2020, as presented in the Statements of Comprehensive Income.
23.5.5 | Changes in actuarial liabilities
| Unified Plan | Plan III | Assistance Plan
Present value of net actuarial obligations as of January 1, 2018 | 5,352,894 | 1,734,568 | 1,035,957
Cost of services | 589 | 9,604 | 11,633
Cost of interest | 533,201 | 195,991 | 102,916
Benefits paid | (414,256) | (133,281) | (7)
Actuarial (gain) losses | 442,336 | 338,779 | (9,894)
Present value of net actuarial obligations as of December 31, 2018 | 5,914,764 | 2,145,661 | 1,140,605
Cost of services | 560 | 4,098 | 14,306
Cost of interest | 477,732 | 128,075 | 106,004
Benefits paid | (435,454) | (174,427) | (30)
Actuarial (gain) losses | 680,860 | 943,129 | 128,725
Present value of net actuarial obligations as of December 31, 2019 | 6,638,462 | 3,046,536 | 1,389,610
Cost of services | 578 | 2,018 | 20,854
Cost of interest | 405,371 | 183,866 | 85,561
Benefits paid | (456,151) | (203,342) | (74)
Actuarial (gain) losses | 172,564 | 315,645 | 218,687
Present value of net actuarial obligations as of December 31, 2020 | 6,760,824 | 3,344,723 | 1,714,638
23.5.6 | Changes in actuarial assets
| Unified Plan | Plan III | Assistance Plan
Fair value of the Plan's assets as of January 1, 2018 | 5,834,572 | 1,821,055 | 170,923
Return estimated for assets | 593,572 | 230,703 | 16,579
Contributions and distributions | 24,011 | 9,184 | -
Benefits paid | (414,256) | (133,281) | -
Actuarial gain (losses) | 252,942 | 250,575 | (14,511)
Fair value of the Plan's assets as of December 31, 2018 | 6,290,841 | 2,178,236 | 172,991
Return estimated for assets | 685,685 | 337,476 | 51,541
Contributions and distributions | 23,851 | 4,185 | -
Benefits paid | (435,454) | (174,427) | -
Actuarial gain (losses) | 981,833 | 792,284 | (28,321)
Fair value of the Plan's assets as of December 31, 2019 | 7,546,756 | 3,137,754 | 196,211
Return estimated for assets | 607,252 | 224,591 | 16,474
Contributions and distributions | 23,919 | 136,708 | -
Benefits paid | (456,151) | (203,341) | -
Actuarial gain (losses) | (153,508) | 334,068 | 9,463
Fair value of the Plan's assets as of December 31, 2020 | 7,568,268 | 3,629,780 | 222,148
23.5.7 | Estimated costs
The estimated net periodic plan costs (gains) for 2021 for each plan are shown below:
| Unified Plan | Plan III | Assistance Plan
Cost of current service | 388 | 4,010 | 7,368
Estimated cost of interest | 481,656 | 246,255 | 125,133
Expected return on plan assets | (530,144) | (245,291) | (15,994)
Expected employee contributions | (136) | (2,003) | -
Costs (income or loss) | (48,236) | 2,971 | 116,507
23.5.8 | Sensitivity Analysis
The following tables set out a sensitivity analysis, which shows the effect of a one percent increase or decrease in the assumed care costs, in the aggregate of the cost of service and cost of interest components and the accumulated post-employment benefit obligation.
| Projected scenarios
| Increase by 1% | Decrease in 1%
Sensitivity of long-term interest rate |  |
Impacts on the obligations of the pension | (514,571) | 521,397
Impacts on the obligations of healthcare program | (130,084) | 138,601
Sensitivity of growth rate of the medical costs |  |
Impacts on the obligations of healthcare program | 116,165 | (112,757)
Impact on cost of service for the following financial year of healthcare program | 492 | (478)
Sensitivity of the service cost |  |
Impacts on the obligations of the pension | 29 | (30)
Impacts on the obligations of healthcare program | 572 | (586)
23.5.9 | Benefits payable
The estimated benefits to be paid by the Company in the next five years and the total benefits for the following fiscal years are shown below:
| Unified Plan | Plan III | Assistance Plan | Total
2021 | 589,819 | 179,251 | 89,842 | 858,912
2022 | 572,875 | 173,696 | 92,409 | 838,980
2023 | 555,705 | 167,961 | 91,572 | 815,238
2024 | 538,812 | 162,277 | 89,509 | 790,598
2025 | 522,208 | 156,810 | 87,372 | 766,390
2026 a 2050 | 5,119,047 | 2,119,296 | 1,010,411 | 8,248,754
23.5.10 | Asset allocation and investment strategy
The asset allocation for the Company pension and healthcare plans at the end of 2020 and the allocation goal for 2021, by asset category, are shown below:
| Goal for 2021 (*) | 2020
Fixed income | 69.6% | 70.4%
Variable income | 7.2% | 9.1%
Loans | 1.6% | 1.6%
Real estate | 5.8% | 7.2%
Investment structuring | 10.5% | 8.9%
Investments abroad | 5.3% | 2.8%
| 100.0% | 100.0%
(*) Target based on the total investment of each plan.
In addition, information on the allocation of assets of pension plans sponsored by the Company:
| Unified Plan | Plan III
| target (%)(*) | minimum (%) | target (%) | minimum (%)
Fixed income | 86.5% | 55.0% | 51.0% | 23.0%
Variable income | 5.0% | 1.0% | 14.0% | 8.0%
Loans | 0.5% | 0.0% | 3.0% | 1.0%
Real estate | 5.0% | 1.0% | 10.0% | 0.0%
Investment structuring | 3.0% | 0.0% | 16.0% | 0.0%
Investments abroad | 0.0% | 0.0% | 6.0% | 0.0%
(*) Target 2020. |  |  |  |
Management of Fundação Copel decided to keep a more conservative approach investing in variable income in relation to the allowed legal limit, which is 70%.
23.5.11 | Additional information
The Company made contributions to Plan III (variable contribution plan) for all active employees at December 31, 2020 and 2019, in the amounts of R$ 67,515 and R$70,564, respectively.

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