Prospective buyers in the property market would use their inheritance to fund a property purchase, according to new research by Saga.
And almost 70 per cent said inheritance would make a difference to their life.
However, Saga's study of more than 2,000 people found that 90 per cent of people expected no inheritance at all and more than 70 per cent were happy for their parents to enjoy their retirement with the help of equity release schemes.
Chief executive of Saga Andrew Goodsell said: "The new generation of retirees are bucking tradition and no longer believe their children have an automatic right to inheritance."
"They are using the money from equity release to enjoy their retirement," he added.
A Recent study conducted by British mortgage lender Nationwide found that 31 per cent of consumers thought saving was important during the current economic down-turn, with 62 per cent admitting they are saving less than they need to.
