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Muse Down Hall 269

Knowledge hub

Check out one of our recent thought pieces below, or dive into our knowledge hub to see the latest thinking from across the Muse team!

Musings | 28 Sept 2026

Concentration risk in trustee services

What happens when a significant proportion of a scheme’s knowledge, governance activity and institutional memory becomes concentrated within a single organisation? Katherine Milton, who is part of our outsourced pensions management leadership team, looks at some of the challenges with concentration risk and outlines the key questions that trustees need to ask when assessing supplier concentration risk.

Musings | 28 Sept 2026

Private markets in UK pension defaults

Private markets could be a valuable addition to UK pension scheme default funds, especially for members who are many years from retirement. This area, however, is not without its challenges. In this article, Paul Armitage, Head of DC at Muse, looks at what this means for charges and member communications.  

Musings | 28 Sept 2026

AI governance

Artificial Intelligence (AI) is driving considerable change across many industries, including pensions, and whilst there are significant potential benefits available, the risks are real as well. Jo Fellowes explores where AI is currently being used and developed in the pensions industry and considers the changes in Trustee governance required to oversee data, security and cyber risk as AI use continues to evolve.

A JM Final

Auline-Jean Melbourne

Associate
HB Final

Hana Bailey

Senior Consultant
TO Final

Tom Oakley

Consultant
KJ Final

Kneale Jefferis

Administrator
ER Final

Emma Rogers

Senior Consultant
TB Final

Tony Brown

Consultant
RP Final

Robert Plumb

Senior Associate
Mark dallaway

Mark Dallaway

Senior Associate
CD Final

Cindy Dadier

Head of Operations
CW Final

Claire Wallis

Consultant
Adam Chate

Adam Chate

Senior Consultant
PA Final

Paul Armitage

Head of DC
JF final

Jo Fellowes

Director
RE Final

Reece Eley

Junior Consultant
Alan S Final

Alan Simpson

Financial Controller
PV Final

Pamjit Virdi

Senior Consultant
CC Final

Clare Chilton

Consultant
TK Final

Tammy King

Head of People
RC

Robyn Cowan

Senior Consultant
Amanda Cullen V1

Amanda Cullen

Senior Associate
KEM Final

Katherine Milton

Principal Consultant
Susan Sinclair March 2025

Susan Sinclair

Senior Consultant
RC Final

Rosanne Corbett

Director
S Murdoch Headshot

Stuart Murdoch

Consultant
DJ F Inal

Daniel Jacobson

Principal Consultant
MH Final

Margs Harvey

Business Administrator
AJB Final

Adam Barker

Project Manager
Muse heads March 579 Edit

Geoff Francis

Senior Consultant
OD Final

Olivia Devereese

Project Manager
EB Final

Emma Beard

Senior Consultant
EMR Final

Ellen Ratcliffe

Principal Consultant
KM Final

Kate Maloney

Client Director
Ryan P Final

Ryan Perrin

IT Support Apprentice
ADC Final

Adrian Cooper

Head of Market Engagement
IM Final

Ian McQuade

CEO
DN Final

Danuta Nott

Business Support Manager
AS Final

Antonella Sferrino

Associate
Sharon Hine

Sharon Hine

HR & Business Support Administrator
KW Final

Katy Wilkinson

Consultant

Testimonials

Muse facilitated the setting of our strategic goals, both financial and operational, working with all our advisers and providers so that the objectives were fully integrated, not only in respect of IRM but also with regard to data, administration, member communication and governance. Their independence meant that the advisers were open and transparent in their thinking. The momentum they helped us achieve means that we are on course to provide good outcomes for our members. It also gives us a helpful framework to refresh regularly, to check that we remain on track.
Independent Trustee, Xerox Final Salary Pension Scheme
When we selected Muse as our Risk Key Function Holder, we were looking for something special that would add value to the Scheme by constructively challenging our perspective. We were not disappointed.
Chair of Trustees, large Irish DC Scheme
Muse worked skillfully with the trustees, our advisers and our main Company contacts to help us review trustee board effectiveness and provide independent insights. Muse set their report in a strategic context for the scheme and it was evident Muse understood our unique challenges as well as comparisons to peer schemes. They framed proportionate views and made clear recommendations for actions that we are now taking forward. It has been a good piece of work, and worthwhile. It will help us work with the Company to make further progress on the scheme. The other trustees had not experienced an effectiveness review; they found it easy to work with Muse and engaged well with the trustee board’s discussion of the report findings.
Independent Trustee Chair, QinetiQ Pension Scheme

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