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 STPS:

• 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 STPS using the formula below.

Club transfer earned pension = [1 - (Factor CTC1 x (NPA - Max_65,Age))] x club transfer credit

where Max_65,Age 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 Factor Tables (Table 110 in consolidated factor workbook) and factors should be selected with reference to the member's sex and age (last birthday).

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