Abstract: An attachment and method for axially securing a component on the surface of a shaft or bore by forming an annular groove adjacent the component and inserting a closed retaining ring within the annular groove. The retaining ring has a larger internal diameter than the diameter of the shaft or a smaller external diameter than the diameter of the bore. The retaining ring is pressed into the annular groove and plastically deformed by a tool that contacts the ring at angularly spaced portions of the retaining ring surface until the ring fills the groove without axial clearance or play. The annular groove formed on the shaft or bore has a cross section for receiving a standard commercial retaining ring or circlip. The portions of the retaining ring located between the portions that are deformed by the tool form convex portions that extend radially away from the annular groove and define a space for the insertion of a prying tool.