A survey of 2,000 ‘Generation X’ individuals - those aged 39-54 - has revealed that 84% make key financial decisions alone or with their partner.

Now Pensions has launched its Auto Enrolment (AE) Cost Comparison Index to illustrate the long-term implications of fees charged by pension providers.

Pension savers will now be putting away more in their pots, as part of an increase in auto-enrolment minimum contributions, from 5% of qualifying earnings to 8%.

Savers could be short-changed by as much as £40,000 unless changes are made to the way auto-enrolment minimum contributions are calculated.