Pan Am fixer to head pension fund

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The man who will oversee the Ontario Retirement Pension Plan is the same man who was brought in to fix problems with the Pan Am games committee. Saad Rafi is going to be paid $525 000 as CEO of the ORPP administration corporation.

Last year, Rafi was paid $428 000 as CEO of the Pan Am games organizing committee. He was hired after complaints about expenses from some of the games’ previous executives. The province says Rafi helped bring the games within its $2.4 billion budget.

Rafi has no pension plan experience, but a finance ministry spokesman says he has the distinct skills needed for the startup of the plan, which will launch next year.