On my Rodden doors I was able to take that pin out and slip a piece of nylon tube over the area the latch rides on. That and adjusting so nothing else touches the latch stopped my squeak. I have had to replace it twice now it's worth it. As I recall the last time I put a piece of rubber fuel line and spun it on my drill press so I could sand it down to fit the latch as tight as I could but still work smoothly.