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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.

ER Final

Emma Rogers

Senior Consultant
RP Final

Robert Plumb

Senior Associate
S Murdoch Headshot

Stuart Murdoch

Consultant
CW Final

Claire Wallis

Consultant
Sharon Hine

Sharon Hine

HR & Business Support Administrator
KW Final

Katy Wilkinson

Consultant
RE Final

Reece Eley

Junior Consultant
JF final

Jo Fellowes

Director
ADC Final

Adrian Cooper

Head of Market Engagement
TO Final

Tom Oakley

Consultant
KM Final

Kate Maloney

Client Director
Ryan P Final

Ryan Perrin

IT Support Apprentice
AJB Final

Adam Barker

Project Manager
KJ Final

Kneale Jefferis

Administrator
Mark dallaway

Mark Dallaway

Senior Associate
RC Final

Rosanne Corbett

Director
IM Final

Ian McQuade

CEO
TK Final

Tammy King

Head of People
DN Final

Danuta Nott

Business Support Manager
EB Final

Emma Beard

Senior Consultant
Alan S Final

Alan Simpson

Financial Controller
Muse heads March 579 Edit

Geoff Francis

Senior Consultant
OD Final

Olivia Devereese

Project Manager
Amanda Cullen V1

Amanda Cullen

Senior Associate
EMR Final

Ellen Ratcliffe

Principal Consultant
PV Final

Pamjit Virdi

Senior Consultant
KEM Final

Katherine Milton

Principal Consultant
Adam Chate

Adam Chate

Senior Consultant
Susan Sinclair March 2025

Susan Sinclair

Senior Consultant
CC Final

Clare Chilton

Consultant
PA Final

Paul Armitage

Head of DC
RC

Robyn Cowan

Senior Consultant
A JM Final

Auline-Jean Melbourne

Associate
MH Final

Margs Harvey

Business Administrator
TB Final

Tony Brown

Consultant
DJ F Inal

Daniel Jacobson

Principal Consultant
CD Final

Cindy Dadier

Head of Operations
HB Final

Hana Bailey

Senior Consultant
AS Final

Antonella Sferrino

Associate

Testimonials

Muse supported us with our transition between administrators. Muse challenged both the incoming and incumbent administrator and made sure we asked the right questions and had robust governance around the transition. They provided significant input into our contract negotiations, ensuring that we benefited from their experience of the market. The acceptance criteria that they developed collaboratively with all stakeholders helped ensure we could hold the administrator to account for delivery. Muse are a great team to work with, and they helped us establish a solid foundation for a strong relationship with our administration partner.
Head of Staff Pensions Management, Prudential Staff Pension 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
We have very much valued working with Muse in a review of our pension administration arrangements. The Muse team was incredibly helpful in helping us prepare for the review, in guiding us through the various assessment stages, and in helping us to get to the right decision for our Schemes. The documentation produced during the process, from the RfP itself, through to the reporting in support of the decision making process, has been first class. I would like to offer my sincere thanks and gratitude for all of the hard work, commitment and support. The Muse team were an absolute delight to work in partnership with, on what could potentially have been a difficult programme.
Group Head of Pensions & Benefits, DMGT

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