| I don't think you have to cut it.   You can do damage to soft AL bracket very quickly with a sawsall.  Heat is the answer IMO, it will come out a lot easier than you think once you put some hot oxy-acetylene heat to the surrounding bracket, it will expand relative to the pin and it will come out with tapping a light sledge with a soft brass float, just don't mushroom the pin itself, that is why you should use a float or slide hammer.
 
 Dissimilar metals  +  Sea Water  + Air  + Sea Water  + Time  = nightmare if not well greased
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