Originally Posted by
Bigbus
That isn't really a LOCK ring. It does nothing but hold the bearings and crap inside. Freewheels don't have a LOCK ring as mentioned previously. They simply get tighter the harder you push the pedals.
All freewheels have a lockring which holds the cogset cluster to the body of the freewheel. The lockring is usually reverse threaded and is held in place by tightening with a hammer and punch. Its play is adjusted by a number a very thin spacers set at the factory. The way in which you can fully overhaul a freewheel is to remove the lockring to then access the two rings of bearings between the cogset and the freewheel body. It's the threaded freewheel body, not the cogset, that becomes tighter and tighter through pedaling force.