Workplace Isas may become a practical reality, financial planner Clive Shelton, deputy chairman of the Tax Incentivised Savings Association, has claimed.
Mr Shelton said: “The product already exists. It is about making it available in the right place and allowing access. Workplace Isas can be offered by an employer as part of an overall package.”
He emphasised that they were a sensible thing to have, and that young people realise the importance of saving.
“There has never been a better time to educate people about this,” he said. “Last month there was a sea change in the national curriculum with inclusion of financial literacy, and the next few years the children who benefitted from child trust funds will be making investment decisions.”
Industry View
Michael Johnson, research fellow for the Centre for Policy Studies, first proposed a workplace Isa in August this year.
He said: “Since then I have given a number of speeches and presentations about it. One comment that I have heard several times is that there is an air of inevitability about it coming to fruition.
“A number of industry executives have called me in to discuss it, so it would appear that they are taking it seriously.”
