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Pensions and Other Post-Employment Benefits (Tables)
 12 Months Ended
Dec. 31, 2018
Pension Plans [Abstract]  
Summary of Defined Benefit and OPEB Plan Obligation and Funded Status

A) Defined Benefit and OPEB Plan Obligation and Funded Status

Information related to defined benefit pension and OPEB plans, based on actuarial estimations, is:

 

Pension Benefits

 

 

OPEB

 

As at December 31,

2018

 

 

2017

 

 

2018

 

 

2017

 

Defined Benefit Obligation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Defined Benefit Obligation, Beginning of Year

 

181

 

 

 

173

 

 

 

22

 

 

 

23

 

Current Service Costs

 

13

 

 

 

14

 

 

 

1

 

 

 

2

 

Interest Costs (1)

 

6

 

 

 

7

 

 

 

1

 

 

 

1

 

Benefits Paid

 

(33

)

 

 

(8

)

 

 

(2

)

 

 

(1

)

Plan Participant Contributions

 

2

 

 

 

2

 

 

 

-

 

 

-

 

Past Service Costs – Curtailments

 

(2

)

 

 

(6

)

 

 

-

 

 

 

(1

)

Re-measurements:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Gains) Losses from Experience Adjustments

 

-

 

 

 

1

 

 

 

-

 

 

-

 

(Gains) Losses from Changes in Demographic Assumptions

 

-

 

 

-

 

 

 

-

 

 

 

(1

)

(Gains) Losses from Changes in Financial Assumptions

 

-

 

 

 

(2

)

 

 

(1

)

 

 

(1

)

Defined Benefit Obligation, End of Year

 

167

 

 

 

181

 

 

 

21

 

 

 

22

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plan Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value of Plan Assets, Beginning of Year

 

141

 

 

 

125

 

 

 

-

 

 

-

 

Employer Contributions

 

6

 

 

 

9

 

 

 

-

 

 

-

 

Plan Participant Contributions

 

2

 

 

 

2

 

 

 

-

 

 

-

 

Benefits Paid

 

(33

)

 

 

(8

)

 

 

-

 

 

-

 

Interest Income (1)

 

4

 

 

 

4

 

 

 

-

 

 

-

 

Re-measurements:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Return on Plan Assets (Excluding Interest Income)

 

(7

)

 

 

9

 

 

 

-

 

 

-

 

Fair Value of Plan Assets, End of Year

 

113

 

 

 

141

 

 

 

-

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension and OPEB (Liability) (2)

 

(54

)

 

 

(40

)

 

 

(21

)

 

 

(22

)

(1)

Based on the discount rate of the defined benefit obligation at the beginning of the year.

(2)

Pension and OPEB liabilities are included in other liabilities on the Consolidated Balance Sheets.
Summary of Pension and OPEB Costs

B) Pension and OPEB Costs

 

Pension Benefits

 

 

OPEB

 

For the years ended December 31,

2018

 

 

2017

 

 

2016

 

 

2018

 

 

2017

 

 

2016

 

Defined Benefit Plan Cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Service Costs

 

13

 

 

 

14

 

 

 

14

 

 

 

1

 

 

 

2

 

 

 

(3

)

Past Service Costs – Curtailments

 

(2

)

 

 

(6

)

 

 

-

 

 

 

-

 

 

 

(1

)

 

 

-

 

Net Settlement Costs

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Net Interest Costs

 

3

 

 

 

3

 

 

 

4

 

 

 

1

 

 

 

1

 

 

 

1

 

Re-measurements:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Return on Plan Assets (Excluding Interest Income)

 

7

 

 

 

(9

)

 

 

(3

)

 

 

-

 

 

 

-

 

 

 

-

 

(Gains) Losses from Experience Adjustments

 

-

 

 

 

1

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

(Gains) Losses from Changes in Demographic Assumptions

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(1

)

 

 

-

 

(Gains) Losses from Changes in Financial Assumptions

 

-

 

 

 

(2

)

 

 

7

 

 

 

(1

)

 

 

(1

)

 

 

-

 

Defined Benefit Plan Cost (Recovery)

 

21

 

 

 

1

 

 

 

22

 

 

 

1

 

 

 

-

 

 

 

(2

)

Defined Contribution Plan Cost

 

22

 

 

 

27

 

 

 

25

 

 

 

-

 

 

 

-

 

 

 

-

 

Total Plan Cost

 

43

 

 

 

28

 

 

 

47

 

 

 

1

 

 

 

-

 

 

 

(2

)
Summary of Fair Value of the Plan Assets

The fair value of the plan assets is:

As at December 31,

2018

 

 

2017

 

Equity Funds

 

70

 

 

 

89

 

Bond Funds

 

29

 

 

 

29

 

Non-Invested Assets

 

12

 

 

 

11

 

Real Estate Funds

 

-

 

 

 

9

 

Cash and Cash Equivalents

 

2

 

 

 

3

 

 

 

113

 

 

 

141

 

 
Summary of principal weighted average actuarial assumptions used to determine benefit obligations and expenses

The principal weighted average actuarial assumptions used to determine benefit obligations and expenses are as follows:

 

Pension Benefits

 

 

OPEB

 

For the years ended December 31,

2018

 

 

2017

 

 

2016

 

 

2018

 

 

2017

 

 

2016

 

Discount Rate

 

3.50

%

 

 

3.50

%

 

 

3.75

%

 

 

3.50

%

 

 

3.25

%

 

 

3.75

%

Future Salary Growth Rate

 

3.88

%

 

 

3.81

%

 

 

3.80

%

 

 

5.08

%

 

 

5.08

%

 

 

5.15

%

Average Longevity (years)

 

88.2

 

 

88.0

 

 

87.9

 

 

 

88.1

 

 

88.0

 

 

87.9

 

Health Care Cost Trend Rate

N/A

 

 

N/A

 

 

N/A

 

 

 

6.00

%

 

 

6.00

%

 

 

7.00

%

 
Sensitivity of defined benefit and OPEB obligation to changes in relevant actuarial assumptions

The sensitivity of the defined benefit and OPEB obligation to changes in relevant actuarial assumptions is:

 

2018

 

 

2017

 

As at December 31,

Increase

 

 

Decrease

 

 

Increase

 

 

Decrease

 

One Percent Change:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discount Rate

 

(25

)

 

 

31

 

 

 

(28

)

 

 

36

 

Future Salary Growth Rate

 

3

 

 

 

(2

)

 

 

3

 

 

 

(3

)

Health Care Cost Trend Rate

 

1

 

 

 

(1

)

 

 

1

 

 

 

(1

)

One Year Change in Assumed Life Expectancy

 

3

 

 

 

(3

)

 

 

4

 

 

 

(4

)