For those members who are above their normal pension age (NPA) at the guarantee date for the transfer, the club transfer earned pension should be the same as the club transfer credit calculated in line with the approach set out in the Club Memorandum, i.e. no adjustment is required.

For those members who are below their NPA at the guarantee date for the transfer, the following process should be used to determine the amount of club transfer earned pension in TPS:

• Calculate the club transfer credit in line with the approach set out in the Club Memorandum.
• Calculate the amount of club transfer earned pension in TPS using the formula below.

Club transfer earned pension = [1 - (Factor CTC1 x (NPA - M_65,A))] x club transfer credit

where M_65,A is the maximum of:

• 65; and
• the member's age (in complete years and months) at the guarantee date for the transfer.

Factor CTC1 can be found in table x-101 in the Consolidated Factors Workbook and factors should be selected with reference to the member's age (last birthday).

The attaching contingent spouse's pension is 37.5% of the club transfer earned pension amount.