v3.25.4
PENSION PLANS AND OTHER POST-EMPLOYMENT BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2025
Disclosure of defined benefit plans [abstract]  
Schedule of plans sponsored by the Company and its subsidiaries and related benefit types
The plans sponsored by the Company and its subsidiaries and the related benefit types are as follows:
PlanTypeEntitySponsor
PBS-ADefined benefit (DB)SistelTelefônica Brasil, jointly with other telecoms resulting from privatization of the Sistema Telebrás
PAMA / PCEDefined benefit (DB)SistelTelefônica Brasil, jointly with other telecoms resulting from privatization of the Sistema Telebrás
Healthcare – Law No. 9656/98Defined benefit (DB)Telefônica BrasilTelefônica Brasil, Terra Networks, TGLog, TIS, CloudCo Brasil and FiBrasil
CTBDefined benefit (DB)Telefônica BrasilTelefônica Brasil
Telefônica BDDefined benefit (DB)VisãoPrevTelefônica Brasil
VISÃODefined contribution (DC) / HybridVisãoPrevTelefônica Brasil, Terra Networks, TGLog, TIS, CloudCo Brasil, CyberCo Brasil and FiBrasil
Schedule of reconciliation of net liabilities (assets)
12.31.202512.31.2024
Post-retirement pension plansPost-retirement health plansTotalPost-retirement pension plansPost-retirement health plansTotal
Present value of DB plan obligations1,988,953 1,567,671 3,556,624 1,954,418 1,548,742 3,503,160 
Fair value of plan assets2,971,714 846,635 3,818,349 3,158,617 885,337 4,043,954 
Net liabilities (assets)(982,761)721,036 (261,725)(1,204,199)663,405 (540,794)
Asset limitation865,364 — 865,364 1,112,307 — 1,112,307 
Current assets(85,323)— (85,323)(73,314)— (73,314)
Non-current assets(97,584)— (97,584)(83,732)— (83,732)
Current liabilities8,890 18,435 27,325 8,678 22,349 31,027 
Non-current liabilities56,620 702,601 759,221 56,476 641,056 697,532 
Summary of total expenses recognized in the income statement
202520242023
Post-retirement pension plansPost-retirement health plansTotalPost-retirement pension plansPost-retirement health plansTotalPost-retirement pension plansPost-retirement health plansTotal
Current service cost1,836 (78,414)(76,578)2,037 15,806 17,843 1,747 9,378 11,125 
Net interest on net actuarial assets/liabilities(11,101)70,454 59,353 71 91,769 91,840 5,903 68,825 74,728 
Total(9,265)(7,960)(17,225)2,108 107,575 109,683 7,650 78,203 85,853 
Summary of amounts recognized in other comprehensive income (loss)
202520242023
Post-retirement pension plansPost-retirement health plansTotalPost-retirement pension plansPost-retirement health plansTotalPost-retirement pension plansPost-retirement health plansTotal
Actuarial losses (gains)279,120 77,882 357,002 (73,304)(425,490)(498,794)352,011 352,974 704,985 
Asset limitation effect(373,341)— (373,341)(56,647)— (56,647)(431,071)(126,032)(557,103)
Total (94,221)77,882 (16,339)(129,951)(425,490)(555,441)(79,060)226,942 147,882 
Income tax and social contribution levied on the total amounts recognized in other comprehensive income were:(i) in 2025: R$6,277, with R$30,129 in deferred income tax and social contribution and R$36,406 in current income tax and social contribution (ii) in 2024: R$188,153, of which R$149,103 was deferred income tax and social contribution and R$39,050 was current income tax and social contribution; an (iii) in 2023: (R$48,925), of which (R$79,229) was deferred income tax and social contribution and R$30,304 was current income tax and social contribution.
Schedule of changes in amount net of liability (asset) of defined benefit, net
12.31.202512.31.2024
Post-retirement pension plansPost-retirement health plansTotalPost-retirement pension plansPost-retirement health plansTotal
Net defined benefit liability (asset) at the beginning of the year(91,892)663,405 571,513 5,971 997,064 1,003,035 
Expenses(9,265)(7,960)(17,225)2,108 107,575 109,683 
Sponsor contributions(9,310)(13,453)(22,763)(9,588)(15,744)(25,332)
Amounts recognized in OCI(94,220)77,882 (16,338)(129,951)(425,490)(555,441)
Distribution of reserves87,290 1,162 88,452 39,568 — 39,568 
Net defined benefit liability (asset) at the end of the year(117,397)721,036 603,639 (91,892)663,405 571,513 
Actuarial assets per balance sheet(182,907)— (182,907)(157,046)— (157,046)
Actuarial liabilities per balance sheet65,510 721,036 786,546 65,154 663,405 728,559 
Disclosure of projected results
Post-retirement pension plansPost-retirement health plansTotal
Current service cost1,789 6,068 7,857 
Net interest on net defined benefit liability/asset(13,578)77,642 64,064 
Total(11,789)83,710 71,921 
Disclosure of sponsoring company's projected contributions
Post-retirement pension plansPost-retirement health plansTotal
Sponsor contributions1,480 — 1,480 
Benefits paid directly by the sponsor8,890 18,605 27,495 
Total10,370 18,605 28,975 
Schedule of average weighted duration of defined benefit liability
Post-retirement pension plansPost-retirement health plans
In 20256.8 years11.6 years
In 20246.9 years11.8 years
Schedule of actuarial assumptions
12.31.2025
Post-retirement pension plansPost-retirement health plans
Discount rate to present value of defined benefit liability
10.96% to 11.49%
10.79% to 10.96%
Future salary growth rate
4.57% to 6.60%
N/A
Medical expense growth rateN/A
6.61%
Nominal annual adjustment rate of pension benefits
3.50%
N/A
Medical service eligibility ageN/A
59 to 63 years
Estimated retirement age
57 to 60 years
59 to 63 years
Mortality table for nondisabled individuals
AT-2000 Basic segregated by gender, down-rated by 10% and 50%
AT-2000 Basic segregated by gender, down-rated by 10%
Mortality table for disabled individuals
RP-2000 Disabled Male, down-rated by 60%
RP-2000 Disabled Male, down-rated by 60%
Disability table
Light-Forte, Álvaro Vindas (down-rated by 50%) and Light-Fraca, down rated by 50%
Light-Forte
TurnoverTurnover experience in VISÃO plans (2018 to 2022)Turnover experience in VISÃO plans (2020 to 2022)
12.31.2024
Post-retirement pension plansPost-retirement health plans
Discount rate to present value of defined benefit liability
11.07% to 11.67%
11.07% to 11.20%
Future salary growth rate
4.57% to 6.60%
N/A
Medical expense growth rateN/A
6.61%
Nominal annual adjustment rate of pension benefits
3.50%
N/A
Medical service eligibility ageN/A
59 to 63 years
Estimated retirement age
57 to 60 years
59 to 63 years
Mortality table for nondisabled individuals
AT-2000 Basic segregated by gender, down-rated by 10% and 50%
AT-2000 Basic segregated by gender, down-rated by 10%
Mortality table for disabled individuals
RP-2000 Disabled Male, down-rated by 60%
RP-2000 Disabled Male, down-rated by 60%
Disability table
Light-Forte, Álvaro Vindas (down-rated by 50%) and Light-Fraca, down rated by 50%
Light-Forte
TurnoverTurnover experience in VISÃO plans (2018 to 2022)Turnover experience in VISÃO plans (2020 to 2022)
In addition to the assumptions presented in the tables above, for 2025 and 2024 other assumptions common to all plans were adopted, as follows: (i) long-term inflation rate: 3.50% in 2025 and 2024; and (ii) annual increase in the use of medical services according to age: 4.0% in 2025 and 2024.
31.c.3.12. Changes in actuarial assumptions in relation to the prior year
In order to adjust some actuarial assumptions to the economic and demographic reality, a study was conducted for the plans administered by Visão Prev and Sistel, which adopted the definition of the assumptions in their Deliberative Councils.
The main economic and financial assumptions that have changed in relation to the previous fiscal year and that interfere with the defined benefit liability are: (i) rates for discount to present value of the defined benefit liability; (ii) long-term inflation rate; (iii) rate of future wage growth; (iv) rate of growth of medical costs; and (v) annual nominal index of adjustment of social security benefits.
The impacts on the plans’ defined benefit liabilities due to the new definition of the actuarial assumptions are as follows:
Post-retirement pension plansPost-retirement health plansTotal
Defined benefit liability, based on current actuarial assumptions1,988,953 1,567,671 3,556,624 
Defined benefit liability, based on prior-year actuarial assumptions1,964,095 1,521,283 3,485,378 
Difference from change in actuarial assumptions24,858 46,388 71,246 
31.c.3.13. Sensitivity analysis for actuarial assumptions
The Company believes that the significant actuarial assumptions with reasonable likelihood of variation due to financial and economic scenarios, which could significantly change the amount of the defined benefit obligation, are the discount rate used to adjust the defined benefit liability to present value and the rate of growth of medical costs.
Below, we present a sensitivity analysis on the defined benefit obligation for scenarios of a 0.5% increase and a 0.5% reduction in the discount rate used to adjust the defined benefit liability to present value.
Post-retirement pension plansPost-retirement health plansTotal
Defined benefit liability, discounted to present value at current rate1,988,953 1,567,671 3,556,624 
Considering a rate increased by 0.5%1,934,970 1,488,710 3,423,680 
Considering a rate decreased by 0.5%2,046,299 1,654,287 3,700,586 
Below, we present a sensitivity analysis on the defined benefit obligation for scenarios of a 1% increase and a 1% reduction in the medical cost growth rate used to adjust the defined benefit liability to present value.
Post-retirement pension plansPost-retirement health plansTotal
Defined benefit liability, projected by the current medical cost growth rate1,988,953 1,567,671 3,556,624 
Considering a rate increased by 1%1,988,953 1,748,904 3,737,857 
Considering a rate decreased by 1%1,988,953 1,415,154 3,404,107 
31.c.3.14. Allocation of plan assets
12.31.202512.31.2024
Post-retirement pension plansPost-retirement health plansTotalPost-retirement pension plansPost-retirement health plansTotal
Investments with market value quoted in active market:
Fixed income investments
National Treasury Note (NTN)2,363,931 840,454 3,204,385 2,417,123 850,897 3,268,020 
Treasury Financial Letter329,017 4,572 333,589 605,490 12,041 617,531 
Repurchase operations176,606 — 176,606 14,203 — 14,203 
Debentures12,478 — 12,478 14,148 — 14,148 
Financial Letter1,226 — 1,226 1,309 — 1,309 
FIDC/CDB Quotas / Others3,626 85 3,711 3,370 — 3,370 
National Treasury Notes (LTN)— 1,524 1,524 4,629 22,399 27,028 
Variable income investments
Investments linked to funds and market indexes4,189 — 4,189 4,509 — 4,509 
Real estate investments63,987 — 63,987 75,862 — 75,862 
Loans to participants14,498 — 14,498 15,654 — 15,654 
Structured and overseas investments2,156 — 2,156 2,320 — 2,320 
Total2,971,714 846,635 3,818,349 3,158,617 885,337 4,043,954 
Schedule of impacts on the plans' defined benefit liabilities due to the new definition of the actuarial assumptions
Post-retirement pension plansPost-retirement health plansTotal
Defined benefit liability, based on current actuarial assumptions1,988,953 1,567,671 3,556,624 
Defined benefit liability, based on prior-year actuarial assumptions1,964,095 1,521,283 3,485,378 
Difference from change in actuarial assumptions24,858 46,388 71,246 
Schedule of sensitivity analysis for actuarial assumptions
Post-retirement pension plansPost-retirement health plansTotal
Defined benefit liability, discounted to present value at current rate1,988,953 1,567,671 3,556,624 
Considering a rate increased by 0.5%1,934,970 1,488,710 3,423,680 
Considering a rate decreased by 0.5%2,046,299 1,654,287 3,700,586 
Below, we present a sensitivity analysis on the defined benefit obligation for scenarios of a 1% increase and a 1% reduction in the medical cost growth rate used to adjust the defined benefit liability to present value.
Post-retirement pension plansPost-retirement health plansTotal
Defined benefit liability, projected by the current medical cost growth rate1,988,953 1,567,671 3,556,624 
Considering a rate increased by 1%1,988,953 1,748,904 3,737,857 
Considering a rate decreased by 1%1,988,953 1,415,154 3,404,107 
Summary of allocation of plan assets
12.31.202512.31.2024
Post-retirement pension plansPost-retirement health plansTotalPost-retirement pension plansPost-retirement health plansTotal
Investments with market value quoted in active market:
Fixed income investments
National Treasury Note (NTN)2,363,931 840,454 3,204,385 2,417,123 850,897 3,268,020 
Treasury Financial Letter329,017 4,572 333,589 605,490 12,041 617,531 
Repurchase operations176,606 — 176,606 14,203 — 14,203 
Debentures12,478 — 12,478 14,148 — 14,148 
Financial Letter1,226 — 1,226 1,309 — 1,309 
FIDC/CDB Quotas / Others3,626 85 3,711 3,370 — 3,370 
National Treasury Notes (LTN)— 1,524 1,524 4,629 22,399 27,028 
Variable income investments
Investments linked to funds and market indexes4,189 — 4,189 4,509 — 4,509 
Real estate investments63,987 — 63,987 75,862 — 75,862 
Loans to participants14,498 — 14,498 15,654 — 15,654 
Structured and overseas investments2,156 — 2,156 2,320 — 2,320 
Total2,971,714 846,635 3,818,349 3,158,617 885,337 4,043,954 
Disclosure of changes in defined benefit liability
12.31.202512.31.2024
Post-retirement pension plansPost-retirement health plansTotalPost-retirement pension plansPost-retirement health plansTotal
Defined benefit liability at the beginning of the year1,954,418 1,548,742 3,503,160 2,167,726 1,917,650 4,085,376 
Current service costs1,836 (78,414)(76,578)2,037 15,806 17,843 
Interest on actuarial liabilities209,624 164,466 374,090 186,004 172,297 358,301 
Benefits paid (203,926)(87,101)(291,027)(196,336)(82,107)(278,443)
Member contributions paid233 — 233 182 — 182 
Actuarial losses (gains) adjusted by experience1,910 (27,572)(25,662)94,337 (67,734)26,603 
Actuarial losses (gains) adjusted by financial assumptions24,858 46,388 71,246 (299,532)(407,170)(706,702)
Business combination— 1,162 1,162 — — — 
Defined benefit liability at the end of the year1,988,953 1,567,671 3,556,624 1,954,418 1,548,742 3,503,160 
Disclosure of changes in the fair value of plan assets
12.31.202512.31.2024
Post-retirement pension plansPost-retirement health plansTotalPost-retirement pension plansPost-retirement health plansTotal
Fair value of plan assets at the beginning of the year3,158,617 885,337 4,043,954 3,233,947 920,586 4,154,533 
Benefits paid(195,914)(73,700)(269,614)(188,315)(66,412)(254,727)
Participants contributions paid233 — 233 182 — 182 
Sponsor contributions paid1,297 52 1,349 1,566 49 1,615 
Interest income on plan assets347,122 94,012 441,134 282,696 80,528 363,224 
Return on plan assets excluding interest income(252,351)(59,066)(311,417)(131,891)(49,414)(181,305)
Distribution of reserves(87,290)— (87,290)(39,568)— (39,568)
Fair value of plan assets at the end of the year2,971,714 846,635 3,818,349 3,158,617 885,337 4,043,954 
Disclosure of changes in asset limitation
12.31.202512.31.2024
Post-retirement pension plansPost-retirement health plansTotalPost-retirement pension plansPost-retirement health plansTotal
Asset Limitation at the beginning of the year1,112,307 — 1,112,307 1,072,192 — 1,072,192 
Interest on the asset limitation126,398 — 126,398 96,762 — 96,762 
Changes in the assets limitation, except interest(373,341)— (373,341)(56,647)— (56,647)
Asset Limitation at the end of the year865,364 — 865,364 1,112,307 — 1,112,307