Notwithstanding any other provision of this Division, none of the benefits herein provided for shall be paid to any person who is convicted of any felony relating to or arising out of or in connection with his service as an employe.
     This section shall not operate to impair any contract or vested right acquired prior to July 11, 1955, under “The 1905 Act” nor to preclude the right to a refund.
     All future entrants shall be deemed to have consented to the provisions of this section as a condition of coverage.