ONLY half of those retiring this year will be able to afford to leave an inheritance according to new research from Prudential.

Just 52 per cent of those questioned are confident they have enough income and assets to fund their retirement and still be able to leave money to relatives.

Prudential’s Class of 2011 research questioned people planning to retire this year and found that 26 per cent have already ruled out being able to leave any inheritance while another 22 per cent were unsure whether their savings would be sufficient to fund their retirement.

The results also show that nearly one in 10 (nine per cent) of those planning to retire this year will cancel plans to leave an inheritance in order to boost their own retirement income.

Gerry Brown, a tax and trusts expert at Prudential, said: “Obviously, the focus for retired people has to be on their own retirement income and so leaving a financial legacy can become a secondary consideration.

“Our research shows that inheritances are increasingly in the nice to do rather than the need to do box because of uncertainty around being able to afford a comfortable retirement.

“For those who do hope to leave a financial legacy there is a risk of assets that increase in value being left exposed to tax as the threshold for inheritance tax is frozen until 2015.

“It is, therefore, imperative for people looking to leave an inheritance and secure a comfortable retirement income to seek professional financial advice in the run-up to retirement and to save as much as possible, as early as possible.”

Men are more confident of leaving a financial legacy - the research results show that 56 per cent of male retirees plan to leave an inheritance compared with 48 per cent of women.

The Class of 2011 research has previously found that this year’s average expected retirement income is £16,600 with just two-fifths (39 per cent) confident they have saved enough for a comfortable retirement.

Across the UK, those planning to retire in Scotland this year are the most positive about their ability to leave an inheritance - 67 per cent of them believe they will be able to leave a financial legacy for their families, compared with only 43 per cent of retirees in Wales.