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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.

KW Final

Katy Wilkinson

Consultant
AS Final

Antonella Sferrino

Associate
MH Final

Margs Harvey

Business Administrator
Muse heads March 579 Edit

Geoff Francis

Senior Consultant
Susan Sinclair March 2025

Susan Sinclair

Senior Consultant
OD Final

Olivia Devereese

Project Manager
DJ F Inal

Daniel Jacobson

Principal Consultant
PV Final

Pamjit Virdi

Senior Consultant
Adam Chate

Adam Chate

Senior Consultant
HB Final

Hana Bailey

Senior Consultant
TK Final

Tammy King

Head of People
CC Final

Clare Chilton

Consultant
ADC Final

Adrian Cooper

Head of Market Engagement
KEM Final

Katherine Milton

Principal Consultant
A JM Final

Auline-Jean Melbourne

Associate
DN Final

Danuta Nott

Business Support Manager
IM Final

Ian McQuade

CEO
RP Final

Robert Plumb

Senior Associate
Alan S Final

Alan Simpson

Financial Controller
EB Final

Emma Beard

Senior Consultant
Ryan P Final

Ryan Perrin

IT Support Apprentice
TO Final

Tom Oakley

Consultant
TB Final

Tony Brown

Consultant
AJB Final

Adam Barker

Project Manager
CD Final

Cindy Dadier

Head of Operations
S Murdoch Headshot

Stuart Murdoch

Consultant
Sharon Hine

Sharon Hine

HR & Business Support Administrator
JF final

Jo Fellowes

Director
RC Final

Rosanne Corbett

Director
RE Final

Reece Eley

Junior Consultant
Mark dallaway

Mark Dallaway

Senior Associate
CW Final

Claire Wallis

Consultant
ER Final

Emma Rogers

Senior Consultant
KJ Final

Kneale Jefferis

Administrator
KM Final

Kate Maloney

Client Director
Amanda Cullen V1

Amanda Cullen

Senior Associate
PA Final

Paul Armitage

Head of DC
EMR Final

Ellen Ratcliffe

Principal Consultant
RC

Robyn Cowan

Senior Consultant

Testimonials

We appointed Muse Advisory for our first external review of board effectiveness. It was undertaken independently by Muse in line with good practice under the UK corporate governance code whilst recognising we are a young organisation building the business for our LGPS shareholders. It was a thorough process but not at all disruptive, with strong involvement of Board, Executive and wider stakeholders. There was a lot of relevant feedback with useful ideas in the Muse report, with a clear presentation of the findings enabling us to discuss and agree the actions to take forward. Overall, it has been a comprehensive and insightful piece of work by Muse.
Chair, Border to Cost Pensions Partnership
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
Knowing that commercial links may exist between some consultants and pension service providers, it was Muse’s clear independence that made the difference for us. Firstly, they helped us to consider the different types of DC scheme available, without having a particular product that they were looking to sell. On the second occasion, we were considering Fiduciary Management. Muse helped us understand the pros and cons of Fiduciary Management compared with our current service. Whilst we didn’t move to Fiduciary Management, we did make changes to the way that we work with our appointed investment consultant.
Former Group Head of HR, Drax Group plc

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