posted 04-19-2009 08:16 AM ET (US)
I happened to be looking at my trim-and-tilt assembly yesterday. Mine is a 2003 Mercury 115 four-stroke, and I have no idea whether it's similar to yours or not.The upper end of the ram is welded to a transverse sleeve. Through the sleeve runs the pivot pin, perhaps 5/8" diameter. There's a hole in the side of the sleeve where a small pin, perhaps 3/16", is inserted to prevent the pivot pin from sliding out to either side. I assume this is the part you're talking about.
My manual describes this piece as the "tri-lobe pin". The manual does not have a detailed drawing or photo that shows any useful detail about the pin. Disassembly instructions are to drive the pin out with a punch, so clearly there is no retaining ring or clip. If I had to guess, I'd say that the end of the pin is split (probably into three prongs, hence the name) and the split lobes make a friction fit inside the pivot pin.
If your pin is falling out, and IF it's the same design as mine, then I'd say that the pin may be damaged and should be replaced, possibly along with the pivot pin.
-Bob