What will happen to my QROPS fund following my death?

Most NZ QROPS will allow the remaining funds to be distributed at the discretion of the scheme trustees to your nominated beneficiaries. This is irrespective of whether benefits have been taken. Where this is not the case they will pass to your estate.
 
The effect of this approach is to avoid liability to UK Inheritance Tax and for those who satisfy the “five year rule” to avoid any liability to the 55% special lump sum benefit tax charge.