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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.

DJ F Inal

Daniel Jacobson

Principal Consultant
TB Final

Tony Brown

Consultant
Muse heads March 579 Edit

Geoff Francis

Senior Consultant
KM Final

Kate Maloney

Client Director
RP Final

Robert Plumb

Senior Associate
Amanda Cullen V1

Amanda Cullen

Senior Associate
MH Final

Margs Harvey

Business Administrator
JF final

Jo Fellowes

Director
RC

Robyn Cowan

Senior Consultant
KW Final

Katy Wilkinson

Consultant
PV Final

Pamjit Virdi

Senior Consultant
ER Final

Emma Rogers

Senior Consultant
Sharon Hine

Sharon Hine

HR & Business Support Administrator
EB Final

Emma Beard

Senior Consultant
EMR Final

Ellen Ratcliffe

Principal Consultant
TK Final

Tammy King

Head of People
TO Final

Tom Oakley

Consultant
Adam Chate

Adam Chate

Senior Consultant
IM Final

Ian McQuade

CEO
DN Final

Danuta Nott

Business Support Manager
CC Final

Clare Chilton

Consultant
KJ Final

Kneale Jefferis

Administrator
KEM Final

Katherine Milton

Principal Consultant
A JM Final

Auline-Jean Melbourne

Associate
Susan Sinclair March 2025

Susan Sinclair

Senior Consultant
CW Final

Claire Wallis

Consultant
OD Final

Olivia Devereese

Project Manager
CD Final

Cindy Dadier

Head of Operations
Ryan P Final

Ryan Perrin

IT Support Apprentice
AS Final

Antonella Sferrino

Associate
Alan S Final

Alan Simpson

Financial Controller
ADC Final

Adrian Cooper

Head of Market Engagement
S Murdoch Headshot

Stuart Murdoch

Consultant
AJB Final

Adam Barker

Project Manager
PA Final

Paul Armitage

Head of DC
RC Final

Rosanne Corbett

Director
Mark dallaway

Mark Dallaway

Senior Associate
RE Final

Reece Eley

Junior Consultant
HB Final

Hana Bailey

Senior Consultant

Testimonials

Muse’s support was invaluable in making sure we were still able to drive forward our projects, Trustee agenda and actions during the absence of a key team member on maternity leave. It was a pleasure to work with the Muse team and we valued their wider market knowledge, willingness to challenge and independent viewpoint. Because we had worked with Muse before we ‘hit the ground running’ and Muse quickly became part of the team.
Pension Strategy Manager, CYBG plc
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
Muse Advisory carried out a review of our governance. The team were good to work with and worked constructively with our trustees, the pensions team, company representatives and our advisers. We invited them back to facilitate our trustee strategy which was also well received. We value their expertise, independence and range of relevant skills.
Trustee Chair, Rolls-Royce UK Pension Fund

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