Posted: Saturday, September 28, 2019. 9:26 am CST.
By BBN Staff: After less than three years as Chief Executive Officer, Dr. Colin Young is stepping down from the post at the Social Security Board (SSB).
Young had taken up the post in January of 2017, replacing Richard Flowers and being the fourth person to hold the post since 2008. Young said that SSB is currently looking for a fifth CEO to ensure a smooth transition. He noted that his departure comes after much personal deliberation.
Following his appointment in 2017, Young led a campaign to have employee contributions increased, stressing that the system was facing imminent collapse if the increase did not happen. That campaign was successful and in July a phased approach to increasing employee contributions began.
Under the new SSB reform, contributors began paying an increase of 8.5% this month. That increase will go up to 9 percent in 2020, and up again to 10 percent by 2021.
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