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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.

OD Final

Olivia Devereese

Project Manager
PA Final

Paul Armitage

Head of DC
ER Final

Emma Rogers

Senior Consultant
CC Final

Clare Chilton

Consultant
Adam Chate

Adam Chate

Senior Consultant
Sharon Hine

Sharon Hine

HR & Business Support Administrator
CD Final

Cindy Dadier

Head of Operations
Ryan P Final

Ryan Perrin

IT Support Apprentice
RP Final

Robert Plumb

Senior Associate
PV Final

Pamjit Virdi

Senior Consultant
Muse heads March 579 Edit

Geoff Francis

Senior Consultant
Susan Sinclair March 2025

Susan Sinclair

Senior Consultant
Amanda Cullen V1

Amanda Cullen

Senior Associate
EB Final

Emma Beard

Senior Consultant
KM Final

Kate Maloney

Client Director
TB Final

Tony Brown

Consultant
AS Final

Antonella Sferrino

Associate
Mark dallaway

Mark Dallaway

Senior Associate
MH Final

Margs Harvey

Business Administrator
EMR Final

Ellen Ratcliffe

Principal Consultant
A JM Final

Auline-Jean Melbourne

Associate
TO Final

Tom Oakley

Consultant
RC

Robyn Cowan

Senior Consultant
DN Final

Danuta Nott

Business Support Manager
RE Final

Reece Eley

Junior Consultant
Alan S Final

Alan Simpson

Financial Controller
AJB Final

Adam Barker

Project Manager
ADC Final

Adrian Cooper

Head of Market Engagement
TK Final

Tammy King

Head of People
KEM Final

Katherine Milton

Principal Consultant
JF final

Jo Fellowes

Director
IM Final

Ian McQuade

CEO
DJ F Inal

Daniel Jacobson

Principal Consultant
S Murdoch Headshot

Stuart Murdoch

Consultant
KW Final

Katy Wilkinson

Consultant
CW Final

Claire Wallis

Consultant
HB Final

Hana Bailey

Senior Consultant
KJ Final

Kneale Jefferis

Administrator
RC Final

Rosanne Corbett

Director

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
Muse Advisory's objective assessment of the effectiveness of the Trustee Board's governance arrangements was well received. They also helped us map roles and responsibilities succinctly and with clarity.
UK Pensions Manager, BAT UK Pension Fund
Muse were able to understand the different styles and requirements of our two Trustee Boards and guide them both through a process, which resulted in a robust decision having carefully considered the right sort of provider and the requirements of the service. Their insights into the market and broad understanding of the part covenant advice plays in integrated risk management was invaluable in evaluating the market, and their facilitated process helped maximise effective use of pensions staff and trustee time.
Pensions Operations Manager, ScottishPower and Manweb Pension Schemes

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