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30. EMPLOYEE BENEFITS (Tables) | 12 Months Ended
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Dec. 31, 2020
Disclosure of defined benefit plans [abstract] |
Schedule of actuarial employee benefit assets and liabilities | The actuarial calculations are updated, at the end of each year, by external actuaries and presented in the financial statements in accordance with IAS 19 - Employee Benefits.
|  |  |  |  |  |  | Consolidated
| 12/31/2020 |  | 12/31/2019 |  | 12/31/2020 |  | 12/31/2019
| Actuarial asset |  | Actuarial liabilities
Benefits of pension plans | (13,819) |  | (13,714) |  | 79,546 |  | 19,788
Post-employment healthcare benefits | - |  | - |  | 678,880 |  | 892,396
| (13,819) |  | (13,714) |  | 758,426 |  | 912,184
Schedule of reconciliation of employee benefits' assets and liabilities | The reconciliation of assets and liabilities of employee benefits is presented below:
|  |  |  |  | Consolidated
| 12/31/2020 |  | 12/31/2019 |  | 12/31/2018
Present value of defined benefit obligation | 3,645,822 |  | 3,581,460 |  | 3,087,433
Fair value of plan assets | (3,766,194) |  | (3,894,488) |  | (3,403,906)
Deficit(Surplus) | (120,372) |  | (313,028) |  | (316,473)
Restriction to actuarial assets due to recovery limitation | 186,099 |  | 319,102 |  | 224,561
Liabilities (Assets), net | 65,727 |  | 6,074 |  | (91,912)
Liabilities | 79,546 |  | 19,788 |  | 7,982
Assets | (13,819) |  | (13,714) |  | (99,894)
Net (assets) recognized in the balance sheet | 65,727 |  | 6,074 |  | (91,912)
Schedule of defined benefit obligation | The change in the present value of the defined benefit obligation is shown below:
|  |  |  |  | Consolidated
| 12/31/2020 |  | 12/31/2019 |  | 12/31/2018
Present value of obligations at the beginning of the year | 3,581,460 |  | 3,087,433 |  | 3,077,849
Cost of service | 968 |  | 1,093 |  | 1,169
Interest cost | 236,551 |  | 283,487 |  | 304,132
Participant contributions made in the period | 1,998 |  | 2,126 |  |
Benefits paid | (278,960) |  | (269,995) |  | (280,493)
Actuarial loss/(gain) | 103,805 |  | 477,316 |  | (15,224)
Present value of obligations at the end of the year | 3,645,822 |  | 3,581,460 |  | 3,087,433
Schedule of changes in fair value of the plan assets |
The change in the fair value of the plan’s assets is shown below:
|  |  |  |  | Consolidated
| 12/31/2020 |  | 12/31/2019 |  | 12/31/2018
Fair value of plan assets at the beginning of the year | (3,894,488) |  | (3,403,906) |  | (3,305,356)
Interest income | (257,946) |  | (314,102) |  | (327,830)
Benefits Paid | 278,960 |  | 269,995 |  | 280,493
Participant contributions made in the period | (1,998) |  | (2,127) |  | -
Return on plan assets (less interest income) | 109,279 |  | (444,348) |  | (51,213)
Fair value of plan assets at the end of the year | (3,766,193) |  | (3,894,488) |  | (3,403,906)
Schedule of employee benefits recognized in the income statement |
The composition of the amounts recognized in the income statement is shown below:
|  |  |  |  | Consolidated
| 12/31/2020 |  | 12/31/2019 |  | 12/31/2018
Cost of current service | 968 |  | 1,093 |  | 1,169
Interest cost | 236,551 |  | 283,487 |  | 304,132
Expected return on plan assets | (257,946) |  | (314,102) |  | (327,830)
Interest on the asset ceiling effect | 21,737 |  | 21,502 |  | 16,340
Total costs / (income), net | 1,310 |  | (8,020) |  | (6,189)
Schedule of actuarial gains and losses |
The movement of actuarial gains and losses is shown below:
|  |  |  |  | Consolidated
| 12/31/2020 |  | 12/31/2019 |  | 12/31/2018
Actuarial losses and (gains) | 103,805 |  | 477,316 |  | (15,224)
Return on plan assets (less interest income) | 109,279 |  | (444,348) |  | (51,213)
Change in the asset’s limit (excluding interest income) | (154,741) |  | 73,039 |  | 50,058
Total cost of actuarial losses and (gains) | 58,343 |  | 106,007 |  | (16,379)
Schedule of breakdown of actuarial gains or losses |
The breakdown of actuarial gains and losses is shown below:
|  |  |  |  | Consolidated
| 12/31/2020 |  | 12/31/2019 |  | 12/31/2018
Loss due to change in demographic assumptions | 67,930 |  | - |  | (139,813)
Loss due to change in financial assumptions | (30,454) |  | 472,715 |  | 46,917
Loss due to experience adjustments | 66,329 |  | 4,601 |  | 77,672
Return on plan assets (less interest income) | 109,279 |  | (444,348) |  | (51,213)
Change in the asset’s limit (excluding interest income) | (154,741) |  | 73,039 |  | 50,058
Actuarial losses and (gains) | 58,343 |  | 106,007 |  | (16,379)
Schedule of actuarial assumptions used | The main actuarial assumptions used were as follows:
| 12/31/2020 |  | 12/31/2019
Actuarial financing method | Projected unit credit |  | Projected unit credit
Functional currency | Real (R$) |  | Real (R$)
Recognition of plan assets | Fair value |  | Fair value
Nominal discount rate | Millennium Plan: 6,95% Plan 35%: 6,24% Supplementation : 6,44% |  | Millennium Plan: 6,98% Plan 35%: 6,75% Supplementation: 6,81%
Inflation rate | 3.32% |  | 3.61%
Nominal salary increase rate | 4.35% |  | 4.65%
Nominal benefit increase rate | 3.32% |  | 3.61%
Rate of return on investments | Millennium Plan: 6,95% Plan 35%: 6,24% Supplementation : 6,44% |  | Millennium Plan: 6,98% Plan 35%: 6,75% Supplementation: 6,81%
General mortality table | Millennium Plan: AT-2012 segregated by gender Plan 35%: AT-2000 Male aggravated by 15% Supplementation: AT-2000 aggravated by 10% segregated by gender |  | Millennium Plan: AT-2000 smoothed down by 10% segregated by gender Plan 35%: AT-2000 Male aggravated by 15% Supplementation: AT-2000 aggravated by 10% segregated by gender
Disability table | 35% Plan Light Medium. Millenium Plan: Prudential (-10%) Supplementation: not applicable |  | 35% Plan and Supplementation: Light Medium. Millenium Plan: Prudential (Ferr. Retirement)
Disability mortality table | Millenium Plan: AT-71 35% Plan : MI-2006 -10% M&F Supplementation: Winklevoss -10% |  | Winklevoss - 1%
Turnover table | Millenium plan 5% per annum, zero for plans 35% and Supplementation |  | Millenium plan 5% per annum, zero for plans 35% and Supplementation
Retirement age | 100% on the first date he/she becomes eligible for programmed retirement benefit under the plan |  | 100% on the first date he/she becomes eligible for programmed retirement benefit under the plan
Household of active participants | 95% will be married at the time of retirement, with the wife being 4 years younger than the husband |  | 95% will be married at the time of retirement, with the wife being 4 years younger than the husband
Schedule of average life expectancy | These tables translate into an average life expectancy in years for employees aged 65 and 40:
| Plan covering 35% of the average salary |  | Average salary supplementation plan |  | Mixed supplementary benefit plan (Milênio Plan)
Longevity at age of 65 for current participants | 12/31/2020 |  | 12/31/2019 |  | 12/31/2020 | 12/31/2019 |  | 12/31/2020 | 12/31/2019
Male | 18.38 |  | 18.38 |  | 18.75 | 18.75 |  | 21.47 | 20.45
Female | 18.38 |  | 18.38 |  | 21.41 | 21.41 |  | 23.34 | 23.02
Longevity at age of 40 for current participants |  |  |  |  |  |  |  |  |
Male | 40.15 |  | 40.15 |  | 40.60 | 40.60 |  | 44.07 | 42.70
Female | 40.15 |  | 40.15 |  | 44.41 | 44.41 |  | 46.68 | 46.28
Schedule of allocation of plan assets | Allocation of plan assets:
|  |  | 12/31/2020 |  |  |  | 12/31/2019 |  |  |  | 12/31/2018
Variable income | 54,285 |  | 1.44% |  | 25,236 |  | 0.65% |  |  | 141,705 | 4.16%
Fixed income | 3,438,735 |  | 91.31% |  | 3,607,398 |  | 92.63% |  |  | 3,050,099 | 89.61%
Real estate | 182,145 |  | 4.84% |  | 183,098 |  | 4.70% |  |  | 52,091 | 1.53%
Others | 91,028 |  | 2.42% |  | 78,756 |  | 2.02% |  |  | 160,011 | 4.70%
Total | 3,766,193 |  | 100.00% |  | 3,894,488 |  | 100.00% |  |  | 3,403,906 | 100.00%
Schedule of quantitative sensitivity analysis regarding the significant assumptions for the pension plans | The quantitative sensitivity analysis in relation to significant assumptions, for pension plans on December 31, 2020 is shown below:
|  |  |  |  |  |  |  |  | 12/31/2020
|  | Plan covering 35% of the average salary |  | Average salary supplementation plan |  | Mixed supplementary benefit plan (Milênio Plan)
Assumption: Discount rate |  |  |  |  |  |  |  |  |
Sensitivity level |  | 0.5% | -0.5% |  | 0.5% | -0.5% |  | 0.5% | -0.5%
Effect on current service cost and on interest on actuarial obligations |  | (1,005) | 1,084 |  | (5,507) | 5,954 |  | (4,758) | 5,309
Effect on present value of obligations |  | 17,381 | (16,114) |  | 92,456 | (85,515) |  | 76,188 | (68,287)
Assumption: Salary growth |  |  |  |  |  |  |  |  |
Sensitivity level |  | 0.5% | -0.5% |  | 0.5% | -0.5% |  | 0.5% | -0.5%
Effect on current service cost and on interest on actuarial obligations |  |  |  |  |  |  |  | 191 | (181)
Effect on present value of obligations |  |  |  |  |  |  |  | 1,079 | (1,030)
Assumption: Mortality table |  |  |  |  |  |  |  |  |
Sensitivity level |  | 0.5% | -0.5% |  | 0.5% | -0.5% |  | 0.5% | -0.5%
Effect on current service cost and on interest on actuarial obligations |  | 120 | (120) |  | 623 | (623) |  | 430 | (430)
Effect on present value of obligations |  | 1,928 | (1,928) |  | 9,669 | (9,669) |  | 5,975 | (5,975)
Assumption: Benefit adjustment |  |  |  |  |  |  |  |  |
Sensitivity level |  | +1 year | - 1 year |  | +1 year | - 1 year |  | +1 year | - 1 year
Effect on current service cost and on interest on actuarial obligations |  | 850 | (839) |  | 4,382 | (4,362) |  | 1,562 | (1,541)
Effect on present value of obligations |  | 13,626 | (13,455) |  | 68,039 | (67,726) |  | 22,603 | (22,306)
Schedule of forecast benefit payments of the defined benefit plans | Following are the expected benefits for future years for defined benefit plans:
Forecast payments |  |  |
Year 1 |  |  | 281,314
Year 2 |  |  | 272,801
Year 3 |  |  | 266,342
Year 4 |  |  | 259,595
Year 5 |  |  | 252,578
Next 5 years |  |  | 1,137,146
Total forecast payments |  |  | 2,469,776
Schedule of post-employment health care plan amounts | The amounts recognized in the balance sheet were determined as follows:
| 12/31/2020 |  | 12/31/2019
Present value of obligations | 678,880 |  | 892,396
Liabilities | 678,880 |  | 892,396
Schedule of reconciliation of the healthcare liabilities | The reconciliation of health benefit liabilities is presented below:
| 12/31/2020 |  | 12/31/2019
Actuarial liability at the beginning of the year | 892,396 |  | 897,137
Expenses recognized in income for the year | 57,731 |  | 69,907
Sponsor’s contributions transferred in prior year | (81,340) |  | (82,081)
Recognition of actuarial loss/(gain) | (189,907) |  | 7,433
Actuarial liability at the end of the year | 678,880 |  | 892,396
Schedule of actuarial gains and losses recognized in shareholders' equity | The actuarial gains and losses recognized in equity are shown below:
| 12/31/2020 |  | 12/31/2019 |  | 12/31/2018
Gain/(loss) recognized in shareholders' equity | (189,907) |  | 7,433 |  | 16,237
Schedule of weighted average life expectancy | Below is the weighted average life expectancy based on the mortality table used to determine the actuarial obligations:
| 12/31/2020 |  | 12/31/2019 |  | 12/31/2018
Longevity at age of 65 for current participants |  |  |  |  |
Male | 20.24 |  | 20.24 |  | 19.55
Female | 20.24 |  | 20.24 |  | 22.17
Longevity at age of 40 for current participants |  |  |  |  |
Male | 42.74 |  | 42.74 |  | 41.59
Female | 42.74 |  | 42.74 |  | 45.30
Schedule of actuarial assumptions used for calculating postemployment healthcare benefits | The actuarial assumptions used to calculate post-employment health benefits were:
| 12/31/2020 |  | 12/31/2019
Biometric and Demographic |  |  |
General mortality table | AT 2000 segregated by gender |  | AT 2000 segregated by gender
Financial |  |  |
Actuarial nominal discount rate | 6.53% |  | 6.78%
Inflation | 3.32% |  | 3.61%
Real increase in medical costs based on age (Aging Factor) | 0,5% - 3,00% real per year |  | 0,5% - 3,00% real per year
Nominal increase medical costs growth rate | 4.10% |  | 6.98%
Average medical cost (Claim cost) | 913.00 |  | 1,319.36
Schedule of quantitative sensitivity analysis regarding the significant assumptions for the postemployment healthcare plans | The quantitative sensitivity analysis for significant assumptions for the post-employment health benefit as of December 31, 2020 is shown below:
|  |  | 12/31/2020
|  | Healthcare Plan
|  | Assumption: Discount rate
Sensitivity level |  | 0.5% | -0.5%
Effect on current service cost and on interest on actuarial obligations |  | 1,216 | (1,339)
Effect on present value of obligations |  | (30,300) | 33,447
|  | Assumption: Medical Inflation
Sensitivity level |  | 1.0% | -1.0%
Effect on current service cost and on interest on actuarial obligations |  | 4,749 | (3,978)
Effect on present value of obligations |  | 72,688 | (60,887)
|  | Assumption: Benefit adjustment
Sensitivity level |  | +1 year | - 1 year
Effect on current service cost and on interest on actuarial obligations |  | 3,123 | (2,925)
Effect on present value of obligations |  | 47,797 | (44,768)
Schedule of forecast benefit payments of the postemployment healthcare plans | Following are the expected benefits for future exercises for post-employment health benefit plans:
Forecast benefit payments |  |  |
Year 1 |  |  | 60,143
Year 2 |  |  | 58,312
Year 3 |  |  | 56,323
Year 4 |  |  | 54,177
Year 5 |  |  | 51,892
Next 5 years |  |  | 221,734
Total forecast payments |  |  | 502,581

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