As promised back in June, Microsoft has released the Xbox Live Gold Family Pack today.
What the pack does is provide users with four 12-month Gold memberships for less than the price of two, adds a Family Center to the dashboard and Xbox.com to manage memberships and online settings, and allows parents to hand out Microsoft Points Allowances.
The pack also provides the account holder to view Activity Reports of Xbox Live usage, and provides discounts on family games as well.
It will run you $99.99 for the year, but if you are already a Gold Member, you can upgrade your existing account and Microsoft will apply any current balance to the new account.
More information is available through here.