(1)  Pensions under this Part are inalienable, whether by way of, or in consequence of, sale, assignment, charge, execution, bankruptcy or otherwise.

(2)  A pension under this Part –

(a) is not available as security for a loan; and

(b) on the death of the person entitled to the pension, is not available as an asset in his or her estate for the payment of his or her debts or liabilities.

(3)  Notwithstanding anything in subregulation (1) or (2) , the Board may deduct from a pension or other benefit payable to a person under this Part any amount previously overpaid or paid in error to that person as pension or other benefit under this Part.