Gunsmithing replacing the J-lock firing pin assembly

Yes, You need to compress the spring to expose the cocking piece and drive out the pin holding it to the firing pin.
Brownells sells the tool you need. Rem. 700 firing pin spring changing tool.
Jim
 
replace the whole assembly...not just the shroud. The spring on a j-lock is whacked. Brownells has several options, including a factory Remmy assembly, that will drop right in your bolt with only a bolt dis/reassembly tool. Price of the remington replacement is only about $50.
 
As others have stated, just replace the whole firing fin assembly. You will need non-J-lock versions of all of the parts anyway (shroud, firing pin, cocking piece) so just buy them assembled. You can buy a complete factory replacement assembly from Brownells or go for an aftermarket assembly. If you buy a complete assembly you will not need any tools beyond a strong shoelace or some 550 cord to remove the old assembly and replace it with the new one (if you don't know how there are how-to videos on Youtube). Just be sure to grease the spring and the threads on the new shroud before screwing it in.