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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.

PV Final

Pamjit Virdi

Senior Consultant
S Murdoch Headshot

Stuart Murdoch

Consultant
AJB Final

Adam Barker

Project Manager
EB Final

Emma Beard

Senior Consultant
A JM Final

Auline-Jean Melbourne

Associate
IM Final

Ian McQuade

CEO
Susan Sinclair March 2025

Susan Sinclair

Senior Consultant
CD Final

Cindy Dadier

Head of Operations
ADC Final

Adrian Cooper

Head of Market Engagement
Ryan P Final

Ryan Perrin

IT Support Apprentice
CW Final

Claire Wallis

Consultant
TO Final

Tom Oakley

Consultant
TB Final

Tony Brown

Consultant
HB Final

Hana Bailey

Senior Consultant
TK Final

Tammy King

Head of People
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Emma Rogers

Senior Consultant
CC Final

Clare Chilton

Consultant
JF final

Jo Fellowes

Director
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Amanda Cullen

Senior Associate
RP Final

Robert Plumb

Senior Associate
KM Final

Kate Maloney

Client Director
MH Final

Margs Harvey

Business Administrator
DN Final

Danuta Nott

Business Support Manager
OD Final

Olivia Devereese

Project Manager
RC

Robyn Cowan

Senior Consultant
Alan S Final

Alan Simpson

Financial Controller
RC Final

Rosanne Corbett

Director
EMR Final

Ellen Ratcliffe

Principal Consultant
KEM Final

Katherine Milton

Principal Consultant
RE Final

Reece Eley

Junior Consultant
Adam Chate

Adam Chate

Senior Consultant
KW Final

Katy Wilkinson

Consultant
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Geoff Francis

Senior Consultant
Sharon Hine

Sharon Hine

HR & Business Support Administrator
Mark dallaway

Mark Dallaway

Senior Associate
PA Final

Paul Armitage

Head of DC
DJ F Inal

Daniel Jacobson

Principal Consultant
AS Final

Antonella Sferrino

Associate
KJ Final

Kneale Jefferis

Administrator

Testimonials

Muse carried out an effectiveness review for both of our scheme trustee boards and ran a joint board workshop on the findings and helped our trustees agree actions. An external review and the workshop were ‘firsts’ for us, we wanted to get it right. We chose Muse because of their experience and independence. Their team were very skilled in helping our trustees take stock and reflect, challenging us to think about future effectiveness and bringing wider knowledge of trustee practice and corporate governance. Muse really delivered well on the work.
Pension and Benefits Partner, LV= Pension Trustee Limited
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 appointed Muse through a competitive tender to support our actuarial selection process as a result of the thoroughness of their approach, their deep knowledge of the market and value for money. Their support was invaluable in helping us to concentrate on what would make the difference for us from our Actuary so that we could make the selection from some very strong candidates. The team was flexible and approachable; they managed the project for us professionally to ensure that the candidate firms were well briefed and engaged with the project. Muse played an important part in enabling us to select a firm best suited to our requirements and ways of working.
Trustee Secretary, States of Jersey Pension Schemes

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