We all know we're supposed to stash something away for a rainy day - including the decades-long monsoon that is old age. The problem, as usual, is finding the money. A recent report suggests more than three-quarters of workers are set to miss out on a moderate standard of living in later life, which is a polite way of saying your golden years might be more tarnished than you'd like.

But there is a simple check you can do right now that could put you in a more comfortable financial position - and it might even reveal you're already saving for retirement without realizing it. Most workers aged 22 and over, earning more than £10,000 a year (or £192 a week, or £833 a month), should automatically see some of their wages siphoned into pension savings. If you've no idea whether that includes you, here's the deal: usually, 5% of your salary goes into a pension pot (separate from the state pension, which is a whole other adventure). If you don't put that money into a pension, it gets taxed anyway, so you'd lose some of it to the taxman instead of your future self.

Crucially, your employer then adds at least 3% of your wages into the pot - free money, just for showing up. This is cash you can only access in retirement, so if money is really tight, you can opt out and keep it in your paycheck now. But the more you save and invest now, the more it grows over time, data shows. For more details on this automatic enrolment system, visit the independent MoneyHelper website - because nothing says 'fun' like reading about pension regulations.