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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.

IM Final

Ian McQuade

CEO
Adam Chate

Adam Chate

Senior Consultant
PA Final

Paul Armitage

Head of DC
AS Final

Antonella Sferrino

Associate
CC Final

Clare Chilton

Consultant
MH Final

Margs Harvey

Business Administrator
OD Final

Olivia Devereese

Project Manager
Sharon Hine

Sharon Hine

HR & Business Support Administrator
Muse heads March 579 Edit

Geoff Francis

Senior Consultant
DJ F Inal

Daniel Jacobson

Principal Consultant
DN Final

Danuta Nott

Business Support Manager
PV Final

Pamjit Virdi

Senior Consultant
EB Final

Emma Beard

Senior Consultant
TK Final

Tammy King

Head of People
JF final

Jo Fellowes

Director
Susan Sinclair March 2025

Susan Sinclair

Senior Consultant
CD Final

Cindy Dadier

Head of Operations
Amanda Cullen V1

Amanda Cullen

Senior Associate
RP Final

Robert Plumb

Senior Associate
RC

Robyn Cowan

Senior Consultant
RE Final

Reece Eley

Junior Consultant
ADC Final

Adrian Cooper

Head of Market Engagement
RC Final

Rosanne Corbett

Director
KJ Final

Kneale Jefferis

Administrator
KW Final

Katy Wilkinson

Consultant
KM Final

Kate Maloney

Client Director
KEM Final

Katherine Milton

Principal Consultant
TB Final

Tony Brown

Consultant
Ryan P Final

Ryan Perrin

IT Support Apprentice
AJB Final

Adam Barker

Project Manager
EMR Final

Ellen Ratcliffe

Principal Consultant
A JM Final

Auline-Jean Melbourne

Associate
Alan S Final

Alan Simpson

Financial Controller
Mark dallaway

Mark Dallaway

Senior Associate
ER Final

Emma Rogers

Senior Consultant
TO Final

Tom Oakley

Consultant
S Murdoch Headshot

Stuart Murdoch

Consultant
CW Final

Claire Wallis

Consultant
HB Final

Hana Bailey

Senior Consultant

Testimonials

Muse worked skillfully with the trustees, our advisers and our main Company contacts to help us review trustee board effectiveness and provide independent insights. Muse set their report in a strategic context for the scheme and it was evident Muse understood our unique challenges as well as comparisons to peer schemes. They framed proportionate views and made clear recommendations for actions that we are now taking forward. It has been a good piece of work, and worthwhile. It will help us work with the Company to make further progress on the scheme. The other trustees had not experienced an effectiveness review; they found it easy to work with Muse and engaged well with the trustee board’s discussion of the report findings.
Independent Trustee Chair, QinetiQ Pension Scheme
We appointed Muse because of their depth and breadth of knowledge of the pension administration market and their independence. Having an adviser who has such level of experience is critical. Muse helped ensure that the Trustees were confident in the decision they took when selecting their third party administrator. Many implementation projects over-promise and under-deliver. Muse provided expert guidance, alongside our own internal project management function and the third party administrator, to ensure a successful implementation that delivered the planned level of automation from day 1. I would confidently recommend Muse Advisory to other Trustee Boards.
Trustee Director, RBS Pension Trustee Limited
Muse continue to provide excellent independent support to us and their clients. Their operating model provides a refreshing change: quality, independently minded people who are good at what they do. Muse know where they want to operate and continually seek to take new ideas into those areas. Muse continue to punch above their weight.
Head of Trustee Services, Unilever

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