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EMPLOYEES BENEFITS PLANS (Tables) | 12 Months Ended
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Dec. 31, 2022
Employees Benefits Plans |
Schedule of assets and actuarial liabilities |
Schedule of assets and actuarial liabilities |  |  |  |  |  |  |
| FAF |  | Plan II
| 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21
Composition of actuarial assets and liabilities |  |  |  |  |  |  |
Present value of actuarial liabilities | 3,121,348 |  | 3,340,497 |  | 20,822 |  | 23,981
Fair value of assets | (3,603,611) |  | (3,547,727) |  | (22,745) |  | (22,298)
(Surplus) Deficit | (482,263) |  | (207,230) |  | (1,923) |  | 1,683
Irrecoverable surplus - (asset ceiling) | 482,263 |  | 207,230 |  | 1,923 |  | -
Net actuarial (assets) liabilities | - |  | - |  | - |  | 1,683
Rollforward of irrecoverable surplus |  |  |  |  |  |  |
Beginning balance of irrecoverable surplus | 207,230 |  | 175,981 |  | - |  | 167
Interest on irrecoverable surplus | 18,152 |  | 13,181 |  | - |  | 12
Changes in irrecoverable surplus during the year | 256,881 |  | 18,068 |  | 1,923 |  | (179)
Ending balance of irrecoverable surplus | 482,263 |  | 207,230 |  | 1,923 |  | -
Rollforward of present value of actuarial liabilities |  |  |  |  |  |  |
Beginning balance of the present value of liabilities | 3,340,497 |  | 3,377,234 |  | 23,981 |  | 23,256
Interest on actuarial obligations | 283,241 |  | 246,073 |  | 1,997 |  | 1,627
Current service cost | 23,189 |  | 26,741 |  | - |  | -
Past service cost - plan changes | (32,526) |  | - |  | (546) |  | -
Benefit paid | (213,804) |  | (169,962) |  | (1,838) |  | (1,712)
Actuarial losses - experience | (36,292) |  | 325,778 |  | (1,358) |  | 4,278
Actuarial losses - hypothesis | (242,957) |  | (465,367) |  | (1,414) |  | (3,468)
Ending balance of actuarial liabilities | 3,121,348 |  | 3,340,497 |  | 20,822 |  | 23,981
Rollforward of the fair value of the assets |  |  |  |  |  |  |
Beginning balance of the fair value of plan assets | (3,547,727) |  | (3,553,215) |  | (22,298) |  | (24,170)
Interest income on assets plan | (301,394) |  | (259,254) |  | (1,851) |  | (1,694)
Benefit paid | 213,804 |  | 169,962 |  | 1,838 |  | 1,712
Return on assets higher (lower) than projection | 31,706 |  | 94,780 |  | (434) |  | 1,854
Ending Balance of the fair value of the assets | (3,603,611) |  | (3,547,727) |  | (22,745) |  | (22,298)
Rollforward of comprehensive income |  |  |  |  |  |  |
Beginning balance | 26,741 |  | 37,883 |  | (2,485) |  | (2,734)
Reversion to accumulated losses | (26,741) |  | (37,883) |  | 2,485 |  | 2,734
Actuarial gains (losses) | 311,776 |  | 139,589 |  | 2,772 |  | (810)
Return on assets higher (lower) than projection | (31,705) |  | (94,780) |  | 434 |  | (1,854)
Changes on irrecoverable surplus | (256,881) |  | (18,068) |  | 179 |  | 179
Ending balance of comprehensive income | 23,190 |  | 26,741 |  | 3,385 |  | (2,485)
Costs recognized in statement of income |  |  |  |  |  |  |
Current service costs | (23,190) |  | (26,741) |  | - |  | -
Interest on actuarial obligations | (283,241) |  | (246,073) |  | (1,997) |  | (1,627)
Projected return on assets | 301,394 |  | 259,254 |  | 1,851 |  | 1,694
Interest on irrecoverable surplus | (18,153) |  | (13,181) |  | - |  | (12)
Costs recognized in statement of income | (23,190) |  | (26,741) |  | (146) |  | 55
Estimated costs for the next year |  |  |  |  |  |  |
Costs of defined benefit | (18,153) |  | (23,190) |  | - |  | -
Estimated costs for the next year | (18,153) |  | (23,190) |  | - |  | -
Schedule of actuarial assumptions and demographic data |
Schedule of actuarial assumptions and demographic data |  |  |  |  |  |  |
| FAF |  | Plan II
| 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21
Actuarial assumptions |  |  |  |  |  |  |
Economic hypothesis |  |  |  |  |  |  |
Discount rate | 9.75% |  | 8.76% |  | 9.73% |  | 8.68%
Inflation rate | 3.50% |  | 3.25% |  | 3.50% |  | 3.25%
Wage growth rate | 4.60% |  | 4.34% |  | N/A |  | N/A
Demographic hypothesis |  |  |  |  |  |  |
Mortality schedule | AT-2000 Basic, by gender |  | AT-2000 smoothed by 10% |  | AT-2000 Basic, by gender |  | AT-2000 smoothed by 10%
Mortality schedule - Disabled | CSO-58 |  | CSO-58 |  | CSO-58 |  | CSO-58
Demographic data |  |  |  |  |  |  |
Number of active participants | 5,669 |  | 6,054 |  | - |  | -
Number of beneficiary participants assisted | 7,884 |  | 7,565 |  | 51 |  | 52
The composition of the investment portfolios is presented below: |
The composition of the investment portfolios is presented below: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | FAF |  | Plan II
|  | 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21
Composition of the fund's portfolio |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income |  | 2,385,591 |  | 66.2% |  | 2,308,861 |  | 65.1% |  | 19,969 |  | 87.8% |  | 19,386 |  | 86.9%
Variable income |  | 421,622 |  | 11.7% |  | 517,259 |  | 14.6% |  | 1,115 |  | 4.9% |  | 1,106 |  | 5.0%
Real estate |  | 342,343 |  | 9.5% |  | 334,905 |  | 9.4% |  | 23 |  | 0.1% |  | 20 |  | 0.1%
Structured investments |  | 454,055 |  | 12.6% |  | 321,779 |  | 9.1% |  | 1,638 |  | 7.2% |  | 1,527 |  | 6.8%
Foreign |  | - |  | - |  | 45,411 |  | 1.3% |  | - |  | - |  | 259 |  | 1.2%
Transactions with participants |  | - |  | - |  | 19,512 |  | 0.5% |  | - |  | - |  | - |  | -
|  | 3,603,611 |  | 100.0% |  | 3,547,727 |  | 100.0% |  | 22,745 |  | 100.0% |  | 22,298 |  | 100.0%
% of nominal return on assets |  | 8.50% |  |  |  | 7.49% |  |  |  | 8.30% |  |  |  | 7.25% |  |
The following amounts represent the expected benefit payments for future periods and the average duration of the plan’s obligations |
The following amounts represent the expected benefit payments for future periods and the average duration of the plan’s obligations |  |  |
| FAF |  | Plan II
2023 | 227,705 |  | 1,869
2024 | 226,703 |  | 1,853
2025 | 226,168 |  | 1,835
2026 | 225,999 |  | 1,814
2027 | 226,916 |  | 1,789
2028 to 2032 | 1,147,585 |  | 8,437
Weighted average duration - in years | 10.95 |  | 8.90
Schedule of quantitative sensitivity analysis regarding relevant assumptions of defined benefit plan |
Schedule of quantitative sensitivity analysis regarding relevant assumptions of defined benefit plan |  |  |  |  |  |  |  |  |  |
|  | Assumptions utilized |  | Variation of (+1%) |  | Variation of (-1%)
Relevant assumptions |  |  | Average rate |  | Actuarial liabilities |  | Average rate |  | Actuarial liabilities
Benefit plan - FAF |  |  |  |  |  |  |  |  |  |
Discount rate |  | 9.75% |  | 10.75% |  | 3,475,721 |  | 8.75% |  | 2,826,339
Wage growth rate (1) |  | 1.06% |  | 2.06% |  | 3,179,369 |  | 0.06% |  | 3,072,449
| (1) | Actual rate.
Schedule of employee benefits |
Schedule of employee benefits |  |  |
| Liabilities
| 12.31.22 |  | 12.31.21
Medical assistance | 119,729 |  | 195,345
F.G.T.S. Penalty (1) | 60,657 |  | 53,881
Award for length of service | 112,225 |  | 98,474
Other | 228,701 |  | 204,885
| 521,312 |  | 552,585
Current | 64,367 |  | 54,354
Non-current | 456,945 |  | 498,231
| (1) | FGTS – Government Severance Indemnity Fund for Employees
Schedule of liabilities related to other benefits |
Schedule of liabilities related to other benefits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Medical plan |  | F.G.T.S. penalty |  | Award for length of service |  | Other (1)
|  | 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21
Composition of actuarial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Present value of actuarial liabilities |  | 119,729 |  | 195,345 |  | 60,657 |  | 53,881 |  | 112,225 |  | 98,474 |  | 228,700 |  | 203,202
Net actuarial liabilities |  | 119,729 |  | 195,345 |  | 60,657 |  | 53,881 |  | 112,225 |  | 98,474 |  | 228,700 |  | 203,202
Rollforward of present value of actuarial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance of present value of actuarial liabilities |  | 195,345 |  | 185,802 |  | 53,881 |  | 282,229 |  | 98,474 |  | 108,908 |  | 203,202 |  | 199,616
Interest on actuarial liabilities |  | 16,805 |  | 13,694 |  | 4,071 |  | 15,711 |  | 7,997 |  | 6,656 |  | 15,388 |  | 10,377
Current service costs |  | 678 |  | - |  | 2,480 |  | 14,833 |  | 5,221 |  | 6,319 |  | 22,804 |  | 23,375
Past service costs (2) |  | - |  | 40,800 |  | - |  | (135,180) |  | - |  | - |  | - |  | 15,847
Benefits paid directly by the Company |  | (8,811) |  | (9,008) |  | (11,482) |  | (6,173) |  | (14,542) |  | (15,163) |  | (26,633) |  | (19,739)
Business combination |  | - |  | 2,081 |  | - |  | - |  | - |  | - |  | - |  | 286
Actuarial (gains) losses - experience |  | (55,928) |  | (6,892) |  | 13,589 |  | 991 |  | 17,357 |  | 10,853 |  | 15,764 |  | 9,289
Actuarial (gains) losses - demographic hypothesis |  | (12,325) |  | (6,403) |  | 2,237 |  | (91,531) |  | 1,935 |  | (7,125) |  | 1,623 |  | (13,165)
Actuarial (gains) losses - economic hypothesis |  | (16,035) |  | (24,729) |  | (4,119) |  | (26,999) |  | (4,217) |  | (11,974) |  | 19,775 |  | (11,396)
Actuarial (gains) losses - exchange variation |  | - |  | - |  | - |  | - |  | - |  | - |  | (23,223) |  | (11,288)
Ending balance of liabilities |  | 119,729 |  | 195,345 |  | 60,657 |  | 53,881 |  | 112,225 |  | 98,474 |  | 228,700 |  | 203,202
Rollforward of the fair value of the assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Benefits paid directly by the Company |  | 8,811 |  | 9,008 |  | 11,482 |  | 6,173 |  | 14,542 |  | 15,163 |  | 26,633 |  | 19,739
Contributions of the sponsor |  | (8,811) |  | (9,008) |  | (11,482) |  | (6,173) |  | (14,542) |  | (15,163) |  | (26,633) |  | (19,739)
Ending Balance of the fair value of the assets |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | -
Rollforward of comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | (34,720) |  | (72,744) |  | 6,636 |  | (110,903) |  | - |  | - |  | (84,050) |  | (102,324)
Actuarial gains (losses) |  | 84,288 |  | 38,024 |  | (11,707) |  | 117,539 |  | - |  | - |  | (37,162) |  | 15,272
Exchange variation |  | - |  | - |  | - |  | - |  | - |  | - |  | 37,204 |  | 3,002
Ending balance of comprehensive income |  | 49,568 |  | (34,720) |  | (5,071) |  | 6,636 |  | - |  | - |  | (84,008) |  | (84,050)
Costs recognized in statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest on actuarial liabilities |  | (16,805) |  | (13,694) |  | (4,071) |  | (15,711) |  | (7,997) |  | (6,656) |  | (15,388) |  | (10,377)
Current service costs |  | (678) |  | - |  | (2,480) |  | (14,833) |  | (5,221) |  | (6,319) |  | (22,804) |  | (23,375)
Past service costs (2) |  | - |  | (40,800) |  | - |  | 135,180 |  | - |  | - |  | - |  | (15,847)
Immediate recognition of reduction |  | - |  | - |  | - |  | - |  | (15,075) |  | 8,246 |  | - |  | -
Cost recognized in statement of income |  | (17,483) |  | (54,494) |  | (6,551) |  | 104,636 |  | (28,293) |  | (4,729) |  | (38,192) |  | (49,599)
Estimated costs for the next year |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current service costs |  | 508 |  | (551) |  | 2,669 |  | (2,480) |  | 5,707 |  | (5,221) |  | (22,804) |  | (20,720)
Interest on actuarial liabilities |  | 11,434 |  | (16,805) |  | 5,052 |  | (4,071) |  | 10,104 |  | (7,997) |  | (15,388) |  | (12,646)
Estimated costs for the next year |  | 11,942 |  | (17,356) |  | 7,721 |  | (6,551) |  | 15,811 |  | (13,218) |  | (38,192) |  | (33,366)
| (1) | Considers the sum of the retirement compensation, life insurance benefits and compensation for time of service granted in certain subsidiaries of Company.
| (2) | Refers to addition of medical plan managed by BRF S.A. and change in the internal policy for FGTS penalty.
The main actuarial assumptions and demographic data |
The main actuarial assumptions and demographic data |  |  |  |  |  |  |  |  |  |  |  |
|  | Medical plan |  | F.G.T.S. penalty |  | Other (1)
Actuarial assumptions |  | 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21 |  | 12.31.22 |  | 12.31.21
Economic hypothesis |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  | 9.73% |  | 8.75% |  | 9.66% |  | 8.62% |  | 8.71% |  | 7.11%
Inflation rate |  | 3.50% |  | 3.25% |  | 3.50% |  | 3.25% |  | 4.88% |  | 9.04%
Medical inflation |  | 6.60% |  | 6.35% |  | N/A |  | N/A |  | N/A |  | N/A
Wage growth rate |  | N/A |  | N/A |  | 3.50% |  | 3.25% |  | 4.88% |  | 9.04%
F.G.T.S. balance growth |  | N/A |  | N/A |  | 3.70% |  | 3.70% |  | N/A |  | N/A
Demographic hypothesis |  |  |  |  |  |  |  |  |  |  |  |
Mortality schedule |  | AT-2000 Basic |  | AT-2000 smoothed by 10% |  | AT-2000 Basic |  | AT-2000 smoothed by 10% |  |  |  |
Disability entry schedule |  | N/A |  | N/A |  | Vindas Álvaro's attenuated 30% |  | RRB-44 |  |  |  |
Schedule of turnover - BRF's historical |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  |  |  |
Demoraphic data |  |  |  |  |  |  |  |  |  |  |  |
Number of active participants |  | 13,776 |  | 14,584 |  | 91,490 |  | 96,635 |  |  |  |
Number of assisted beneficiary participants |  | 1,610 |  | 1,686 |  | - |  | - |  |  |  |
| (1) | Includes retirement compensation and life insurance benefits.
Schedule of future payments |
Schedule of future payments |  |  |  |  |  |  |  |  |  |
Payments |  | Medical plan |  | F.G.T.S. penalty |  | Award for length of service |  | Other |  | Total
2023 |  | 4,650 |  | 16,723 |  | 15,254 |  | 27,740 |  | 64,367
2024 |  | 5,157 |  | 4,552 |  | 16,485 |  | 17,807 |  | 44,001
2025 |  | 5,687 |  | 4,933 |  | 14,363 |  | 18,858 |  | 43,841
2026 |  | 6,282 |  | 5,666 |  | 13,658 |  | 19,145 |  | 44,751
2027 |  | 6,919 |  | 5,992 |  | 12,324 |  | 20,237 |  | 45,472
2028 to 2032 |  | 44,451 |  | 37,766 |  | 62,940 |  | 131,600 |  | 276,757
Weighted average duration - in years |  | 17.16 |  | 5.68 |  | 5.27 |  | 9.28 |  | 8.35
Schedule of sensitivity analysis of post-employment plans |
Schedule of sensitivity analysis of post-employment plans |  |  |  |  |  |  |  |  |  |
|  | Assumptions utilized |  | (+) Variation |  | (-) Variation
Relevant assumptions |  |  | Average (%) |  | Actuarial liabilities |  | Average (%) |  | Actuarial liabilities
Medical plan |  |  |  |  |  |  |  |  |  |
Discount rate |  | 9.74% |  | 10.74% |  | 102,879 |  | 8.74% |  | 141,159
Medical inflation |  | 6.60% |  | 7.60% |  | 141,105 |  | 5.60% |  | 102,687
F.G.T.S. penalty |  |  |  |  |  |  |  |  |  |
Discount rate |  | 9.66% |  | 10.66% |  | 57,668 |  | 8.66% |  | 64,023
Wage growth rate |  | 3.50% |  | 4.50% |  | 54,466 |  | 2.50% |  | 53,345
Turnover |  | Historical |  | +3% |  | 44,883 |  | -3% |  | 66,993

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