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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.

S Murdoch Headshot

Stuart Murdoch

Consultant
CD Final

Cindy Dadier

Head of Operations
RE Final

Reece Eley

Junior Consultant
DN Final

Danuta Nott

Business Support Manager
EMR Final

Ellen Ratcliffe

Principal Consultant
Amanda Cullen V1

Amanda Cullen

Senior Associate
MH Final

Margs Harvey

Business Administrator
Susan Sinclair March 2025

Susan Sinclair

Senior Consultant
Mark dallaway

Mark Dallaway

Senior Associate
JF final

Jo Fellowes

Director
RP Final

Robert Plumb

Senior Associate
ER Final

Emma Rogers

Senior Consultant
Alan S Final

Alan Simpson

Financial Controller
A JM Final

Auline-Jean Melbourne

Associate
Sharon Hine

Sharon Hine

HR & Business Support Administrator
Muse heads March 579 Edit

Geoff Francis

Senior Consultant
RC Final

Rosanne Corbett

Director
TK Final

Tammy King

Head of People
KEM Final

Katherine Milton

Principal Consultant
CW Final

Claire Wallis

Consultant
OD Final

Olivia Devereese

Project Manager
EB Final

Emma Beard

Senior Consultant
KJ Final

Kneale Jefferis

Administrator
ADC Final

Adrian Cooper

Head of Market Engagement
TO Final

Tom Oakley

Consultant
KM Final

Kate Maloney

Client Director
PA Final

Paul Armitage

Head of DC
HB Final

Hana Bailey

Senior Consultant
Ryan P Final

Ryan Perrin

IT Support Apprentice
PV Final

Pamjit Virdi

Senior Consultant
TB Final

Tony Brown

Consultant
RC

Robyn Cowan

Senior Consultant
AS Final

Antonella Sferrino

Associate
DJ F Inal

Daniel Jacobson

Principal Consultant
Adam Chate

Adam Chate

Senior Consultant
AJB Final

Adam Barker

Project Manager
KW Final

Katy Wilkinson

Consultant
CC Final

Clare Chilton

Consultant
IM Final

Ian McQuade

CEO

Testimonials

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
Rosanne and Julia facilitated an online session for the Trustee Board on strategic planning and agreeing our objectives for member experience, considering administration service delivery and member communications and engagement. It was a focused, positive and engaging session despite it having to be held online rather than face to face as we’d planned. It helped us make progress and we had a meaningful discussion as a board. All the trustee directors were able to share candid views and ideas on what is important to us as a board and to members. We got a lot of value out of it - and more to the point now have a basis to agree long-term non-financial objectives for the pension scheme.
Chair and Trustee Director, National Grid Electricity Group Trustee Limited
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

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