A new survey has revealed that around three million people who are not retired are relying on a lottery win to pay for their retirement, and a similar number are counting on an inheritance windfall.

The research by YouGov for the National Association of Pension Funds (NAPF) asked people who have not yet retired to list the different ways they are planning on funding their retirement.

Nearly half (49%) said they plan to do so through a workplace or private pension. But a striking 8% - or just over three million people by NAPF estimates - said they are relying on a lottery win to fund their older age, while a similar number (9%) are banking on an inheritance windfall.

More than one in five (21%) are planning to save into an ISA, 17% plan to invest in property, and just over a third (34%) said they are relying on the state pension.

Joanne Segars, Chief Executive of the NAPF, said:

"It’s deeply unnerving that millions of people count a flutter on the lottery as part of their retirement plans. A financially secure old age cannot be left to chance. The only certainty is that many will miss the jackpot and wind up in pensioner poverty.”