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Contract term allows former SSB CEO to walk away with Prado

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Posted: Friday, January 10, 2020. 11:29 am CST.

By BBN Staff: A term in the employment contract of Dr. Colin Young, former Chief Executive Officer of the Social Security Board (SSB) allowed him to bypass the policies of the board and leave with the 2012 Toyota Prado that the SSB had issued him during his tenure.

According to SSB Chairman Dough Singh, the clause in Young’s contract gave him the option to purchase the vehicle when he left the post, despite SSB policy stating that disposal of items that are valued at $10,000 or more, must be disposed of through public tender.

Young opted to buy the vehicle and the SSB sold it to him for $20,000. The sale did not sit well with some from within the SSB, who then contacted the media, pointing out that the sale goes against established policies.

Young, who championed the Social Security contribution increase, left the SSB to take up a new role as the head of the Caribbean Community Climate Change Center (5C’s).

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