Actuarial gains and losses reflect unforeseen increases or reductions in the present value of a defined benefit obligation or of the fair value of the corresponding plan assets. Actuarial gains and losses resulting from changes in the present value of liabilities under a defined benefit plan stem, firstly, from experience adjustments (differences between the previous actuarial assumptions and what has actually occurred) and, secondly, from the effect of changes in actuarial assumptions.
Publicis Groupe also recognizes various long-term benefits, primarily seniority payments, long-service awards, in France in particular, and certain multi-year plans for which the deferred compensation is linked to continued employment.
December 31, 2020 | December 31, 2019 | |||||
|---|---|---|---|---|---|---|
(in millions of euros) | Pension plans | Medical cover | Total | Pension plans | Medical cover | Total |
Opening actuarial benefit obligation | Opening actuarial benefit obligation December 31, 2020 (752) | Opening actuarial benefit obligation December 31, 2019 (22) | (774) | (668) | (21) | (689) |
Cost of services rendered during the year | Cost of services rendered during the year December 31, 2020 (27) | Cost of services rendered during the year December 31, 2019
| (27) | (25) | (25) | |
Benefits paid | Benefits paid December 31, 2020 59 | Benefits paid December 31, 2019 1 | 60 | 64 | 2 | 66 |
Interest expense on benefit obligation | Interest expense on benefit obligation December 31, 2020 (14) | Interest expense on benefit obligation December 31, 2019 (1) | (15) | (21) | (1) | (22) |
Effect of remeasurement | Effect of remeasurement December 31, 2020 (34) | Effect of remeasurement December 31, 2019 (1) | (35) | (81) | (2) | (83) |
Experience gains (losses) | Experience gains (losses) December 31, 2020 (6) | Experience gains (losses) December 31, 2019 1 | (5) | (1) | (1) | |
Gains (losses) arising from a change in economic assumptions | Gains (losses) arising from a change in economic assumptions December 31, 2020 (33) | Gains (losses) arising from a change in economic assumptions December 31, 2019 (2) | (35) | (85) | (2) | (87) |
Gains (losses) arising from other changes in demographic assumptions | Gains (losses) arising from other changes in demographic assumptions December 31, 2020 5 | Gains (losses) arising from other changes in demographic assumptions December 31, 2019
| 5 | 5 | 5 | |
Acquisitions, disposals | Acquisitions, disposals December 31, 2020 3 | Acquisitions, disposals December 31, 2019
| 3 | (1) | (1) | |
Translation adjustments | Translation adjustments December 31, 2020 41 | Translation adjustments December 31, 2019 2 | 43 | (19) | (19) | |
Actuarial benefit obligation at year-end | Actuarial benefit obligation at year-end December 31, 2020 (724) | Actuarial benefit obligation at year-end December 31, 2019 (21) | (745) | (752) | (22) | (774) |
