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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.

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Tom Oakley

Consultant
KM Final

Kate Maloney

Client Director
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Daniel Jacobson

Principal Consultant
RC

Robyn Cowan

Senior Consultant
KEM Final

Katherine Milton

Principal Consultant
HB Final

Hana Bailey

Senior Consultant
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Emma Rogers

Senior Consultant
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Reece Eley

Junior Consultant
RP Final

Robert Plumb

Senior Associate
Alan S Final

Alan Simpson

Financial Controller
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Paul Armitage

Head of DC
MH Final

Margs Harvey

Business Administrator
PV Final

Pamjit Virdi

Senior Consultant
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Danuta Nott

Business Support Manager
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Tony Brown

Consultant
JF final

Jo Fellowes

Director
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Ellen Ratcliffe

Principal Consultant
OD Final

Olivia Devereese

Project Manager
AJB Final

Adam Barker

Project Manager
A JM Final

Auline-Jean Melbourne

Associate
Adam Chate

Adam Chate

Senior Consultant
TK Final

Tammy King

Head of People
Ryan P Final

Ryan Perrin

IT Support Apprentice
Susan Sinclair March 2025

Susan Sinclair

Senior Consultant
EB Final

Emma Beard

Senior Consultant
KJ Final

Kneale Jefferis

Administrator
CW Final

Claire Wallis

Consultant
S Murdoch Headshot

Stuart Murdoch

Consultant
Amanda Cullen V1

Amanda Cullen

Senior Associate
RC Final

Rosanne Corbett

Director
CC Final

Clare Chilton

Consultant
Sharon Hine

Sharon Hine

HR & Business Support Administrator
KW Final

Katy Wilkinson

Consultant
CD Final

Cindy Dadier

Head of Operations
IM Final

Ian McQuade

CEO
AS Final

Antonella Sferrino

Associate
Muse heads March 579 Edit

Geoff Francis

Senior Consultant
Mark dallaway

Mark Dallaway

Senior Associate
ADC Final

Adrian Cooper

Head of Market Engagement

Testimonials

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 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
Muse took over as a fully outsourced pensions department on the retirement of our long-standing Pensions Director. We were concerned about losing Scheme knowledge, acquired over many years, but we have been delighted with Muse’s work. Their team approach mitigated our key man risk and, throughout their time with us, they have been reliable and professional, always keeping the regular business-as-usual cycle moving as well as helping us navigate more sensitive issues. The chemistry is good and they work as though they are our in-house pensions department. We appreciate their thoroughness and professionalism and feel well-supported in all areas of work.
Chairman of the Trustee Board, Xerox Pension Scheme

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