Keep in mind that the calculation will also need to include the uplift in the loyalty points awarded as you reach each hurdle compared to before.
Indeed..you now get 16 points/SC instead of just 11 previously, which in pretty well all cases will more than cancel out any loss of "spare" SC's at the end of your membership year. In my case I used to get 10K or 15K extra points/year; I will now get a minimum of 16K and 24K in most cases.