Back dating insurance

You may be able to pay voluntary contributions to fill any gaps if you’re eligible.

Check your National Insurance record to find out: Voluntary contributions do not always increase your State Pension.

It is common for two parties, particularly in the commercial context, to enter into a contract at one time, but agree to have the contract come into effect at an earlier time. Courts respect the parties' decision to backdate since giving effect to backdating provisions respects the parties' intentions as well as their freedom of contract., 1968 (the date the contract was delivered to the insured).

The Court considered the construction of the whole policy and held that the exclusion clause took effect on the backdated date chosen by the parties.

You may also want to get financial advice before you decide to make voluntary contributions.Additionally, where the backdating of an agreement affects the taxes that are imposed (or not imposed) on one of the contracting parties, courts will generally only respect the backdating provisions as between the contracting parties.A court will generally not enforce the backdating provisions as between a taxpayer and the applicable tax enforcement agency (such as the Canada Revenue Agency).However, it is impermissible where the parties backdate either to unconscionably interfere with the rights of third parties (including the government's right to tax such parties) or where it contravenes applicable rules or legislation. From insurance to real estate, template agreements are the most common form of contractual obligation between Canadian consumers and the industries that affect their daily lives.Gaps can mean you will not have enough years of National Insurance contributions to get the full State Pension (sometimes called ‘qualifying years’).

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