Wednesday, January 13, 2016
Ontario Ministry of Finance
Ontario Retirement Pension Plan Administration Corporation Appoints CEO
Saäd Rafi to Lead Independent Organization Responsible for Administration of the ORPP
The Initial Board of the Ontario Retirement Pension Plan Administration Corporation (ORPP AC) and the Government of Ontario are pleased to announce the appointment of Mr. Saäd Rafi as the first Chief Executive Officer of the ORPP AC.
Mr Rafi was most recently the Chief Executive Officer of the TO2015 Pan Am/Parapan Am Games Organizing Committee, responsible for the delivery of one of the largest and most successful sporting events in Canadian history. Mr. Rafi has 25 years of experience as a leader in the public and private sectors, including serving as Deputy Minister in several portfolios with the Government of Ontario, and as an Equity Partner with Deloitte, where he started the firm's national Infrastructure Advisory and Project Finance practice.
Mr Rafi will bring his vast experience in public sector administration, capital planning, and public/private partnerships to the administration of the ORPP. Reporting to the Board of Directors, Mr. Rafi will focus on building the new Administration Corporation and delivering on its mandate to implement the Ontario Retirement Pension Plan, benefitting millions of Ontario workers. He will be responsible for developing the ORPP AC's organizational structure, engaging service delivery partners such as the Canada Revenue Agency, and overseeing the set-up of the infrastructure and technology required to administer the plan.
Mr Rafi was recruited by the Board of Directors through an executive talent management review by an external search firm, and in consultation with the government.
Building a secure retirement savings plan is part of the government's four-part plan to build Ontario up. The plan also includes investing in people's talents and skills, making the largest investment in public infrastructure in Ontario's history, and creating a dynamic, innovative environment where business thrives.
Quick Facts:
- The ORPP AC is an arm’s length organization with a mandate to administer the ORPP.
- The ORPP AC is modelled on the best practices of leading independent pension plans and will have a strong accountability and transparency framework, including publishing an annual report to members.
- All contributions and investment funds will be held in trust for ORPP beneficiaries and will not form part of general government revenues.
- The Initial Board of directors of the ORPP AC was appointed in November 2015.
Additional Resources:
Quotes:
"Mr. Rafi has extensive experience in the public and private sector and he has effectively and consistently delivered positive results in complex and diverse portfolios time and time again. I am confident that with Mr. Rafi’s knowledge, expertise and leadership at the helm of the Ontario Retirement Pension Plan Administration Corporation, we will create a stronger retirement income system in Ontario for generations to come."
— Charles Sousa, Minister of Finance
"Our government is committed to enhancing retirement security for Ontario workers. We congratulate the Initial Board of Directors on the recruitment of Saäd Rafi as Chief Executive Officer, which marks a significant milestone toward the establishment of the ORPP. His vast experience as an administrator and leader will ensure the ORPP AC is an accountable, effective, and high-performing organization."
— Mitzie Hunter, Associate Minister of Finance (Ontario Retirement Pension Plan)
"The Board is pleased that Mr. Rafi has accepted this challenging and important role as the initial CEO of the ORPP AC. The board will work with Mr. Rafi to ensure that the ORPP AC is accountable, transparent, and cost-effective while pursuing the highest possible level of performance in pension management."
— Susan Wolburgh Jenah, Initial Chair, ORPP AC
"I am pleased to have the Board’s confidence in my appointment as the first CEO of the ORPP Administration Corporation. I look forward to working with the Board to implement the Ontario Retirement Pension Plan in a transparent and effective manner. "
— Saäd Rafi, Chief Executive Officer, ORPP AC
Media Contacts:
Clancy Zeifman
Associate Minister’s Office
416-325-3749
clancy.Zeifman@ontario.ca
Scott Blodgett
Ministry of Finance
416-325-0324
scott.blodgett@ontario.ca
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