A third (32%) of UK savers expect to need an inheritance to have enough income to live on in retirement.

Just 44% of 2,000 UK savers surveyed by Hargreaves Lansdown said they do not expect to need to inherit in order to fund their retirement.

Younger people were more likely to expect to need an inheritance, with 39% of those aged between 18 and 54 saying they would need one in comparison to 21% of those over the age of 55.

Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, said the survey highlights now savers need to take control of their retirement planning.

She said: “Inheriting money can go a long way towards plugging gaps in our finances. Receiving a lump sum can help you pay off your mortgage, pay for travel or give you a bit of extra money in retirement.

“However, for some receiving an inheritance has gone from a nice to have to something more like a necessity with just under one third of people saying they thought they would need an inheritance to have enough income to live on in their retirement years.

“Having a robust plan in place for your retirement gives you the confidence of knowing you are on track and will make you much less reliant on any kind of inheritance to help you fund your lifestyle.”

The survey of 2,000 people was conducted by Opinium on behalf of Hargreaves Lansdown in May 2025.

Separate research from Charles Stanley found that over a third (36%) of Gen Xers aged between 44-59 are in the dark when it comes to knowing about their parents’ inheritance plans.

A quarter (27%) of millennials aged 28-43 said they do not know what their parents’ plans are when it comes to inheritance.

Almost a quarter, 24%, said their parents have never spoken to them about their plans with just 3% not knowing because they are either estranged, their parents have passed away or they have no relationship with them.