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Published Date: 14 October 2008 Cash from Lancashire County Council's pension pot is at risk following the collapse of Iceland's banks, the Lancashire Evening Post can reveal. Around £2.5m from the local authority's pension scheme was among the £10m deposited by the council into the stricken bank Landsbanki. The revelation came as council leaders were accused of "recklessness" for missing warnings about the parlous stat e of Iceland's finances and depositing money in the country's banks only six weeks ago. It has emerged that Lancashire's local authorities were among the last in the country to invest money in the beleaguered Icelandic banking system. The county council made its deposit as late as September 3 for a three-month period. The money included £600,000 invested on behalf of Lancashire police... [read full story]
