Actually you don't need to remove the cover to re-index the clutch actuator arm.
Loosen the acorn nut holding the arm on the shaft and unscrew it a couple of turns then wedge a screwdriver under the arm, between the cover and the arm, then tap the acorn nut with a hammer. The arm should pop off.
I think your cable is just stretching. But this also brings up the question, did it ever disengage or has the clutch been stuck from day one? I don't know what you mean when you refer to "the pivot point". What do you mean by that?
Tom