Company joins equality change

BY GEORGIA MASON-COX

Gay and lesbian partners can now access cheaper fees for some products offered by financial services company IOOF.

The company has extended its fee aggregation structure, which previously only applied to couples in traditional relationships, to same-sex couples.

IOOF aligned its products and services in accordance with legislative reforms coming into effect on July 1, which will see same-sex partners gain equality in areas such as superannuation, tax, social security and family assistance laws.

The company’s head of product and marketing, Nick Everingham, said fee aggregation benefits customers by allowing them to link multiple IOOF accounts and achieve a reduction in the total administration charges.

Any couple living in a domestic relationship should be allowed to reap the benefits of fee aggregation regardless of their gender, he said.