The study by LV= found that 35 per cent will use the windfalls to provide an income when they retire and 20 per cent will not be able to comfortably retire without such help.

However, Britons relying on inheritance windfalls may be in for a shock as the number of people leaving significant amounts to the younger generation is falling.

The report revealed that a quarter of retirees (28 per cent) do not plan to leave much to their children while a fifth (20 per cent) intend to spend their money enjoying their retirement rather than leave it behind.

Some 4 per cent say they will follow Bill Gates and Warren Buffett’s lead and leave their cash to charity.

John Perks, managing director of LV= Retirement Solutions, said: “People now spend almost as long in retirement as they do in the workplace, so it’s worrying to see that many people say they are reliant on something essentially out of their control to provide them with a comfortable retirement.

“With all the everyday demands on our time, retirement planning is often at the bottom of the to-do list, but it is important that people take steps to secure themselves the lifestyle they hope for in retirement.”