(1) Benefits are absolutely inalienable, by way of, or in consequence of, sale, assignment, charge, execution, bankruptcy or otherwise.
(2) Subsection (1) has effect subject to:
(a) section 41 (which deals with payment of part of a pension of a surviving spouse of a person to someone else for the welfare of the person's children); and
(b) section 42 (which deals with payment of a benefit to someone other than the beneficiary, for the beneficiary's welfare); and
(c) subsection 61(3) (which provides for recovery of certain amounts by deductions from payments of benefits).