An annual cap of £3,600 for a tax-free Junior ISA fits the general consensus and would be in line with stakeholder savings, TISA's Malcolm Small says.
The government yesterday said it planned to roll out the product next autumn to fill the void left by the loss of child trust funds (CTFs).
Industry reaction was mixed on the plans.
But Small, TISA director of policy, says a junior product will leverage the popular ISA brand and encourage people to start saving earlier.
"We know ISAs are one of the biggest success stories in UK savings and it makes total sense to adapt that to child savings," he says.
A Bill is currently going through parliament to debate the Junior ISA's final form.
One aspect yet to be decided is the annual cap and Small says TISA has put forward a suggestion of £3,600. The current cap for an adult ISA is £10,200.
"This seems to be the general consensus and keeps in line with stakeholder savings," he says.
Unlike child benefits, the government will make no contribution to the new ISAs.
Small says: "It would be nice to have a government contribution but the reality of the economic situation means this just isn't possible."
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