The lock plate inside certain steering columns, such as the Saginaw columns that GM and many Chrysler vehicles used up till about 1990, had to be compressed in order to pry out the steel split ring holding it in place. This was a necessary step in getting down to the ignition lock.

This HPC SWLPC-1 is perfectly adept at handling this chore. All you need in addition to it is an open end or adjustable wrench for the tightening nut.