A combination of Kiwis living longer and large numbers of baby boomers retiring in the next two decades means the country needs to consider a new retirement option, warns the Financial Services Council.

Columnist spurs borrowers to demand lower interest rates.

Reserve Bank figures show household debt, which is 94 per cent mortgages, is still 141.7 per cent of disposable income.

BNZ has cut a key mortgage rate this morning, following rate cutting by other banks on Saturday morning.

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An investment portfolio managed by BNZ has pulled out of a Pyne Gould managed fund after an auditor walk-out.

The finance industry needs to work with the Government to help restore confidence in the markets, says Commerce Minister Craig Foss.