Do NOT add a processor to the motherboard until you remove the old pin that's stuck inside the socket. This will damage your new processor and still not fix the issue. Unfortunately I am not aware of any methods to fix the pin.
Your motherboard is not safe to use. To answer your question if soldering is needed, there are tiny wires connecting to every pin and soldering is out of question.
Do NOT add a processor to the motherboard until you remove the old pin that's stuck inside the socket. This will damage your new processor and still not fix the issue. Unfortunately I am not aware of any methods to fix the pin.
Your motherboard is not safe to use. To answer your question if soldering is needed, there are tiny wires connecting to every pin and soldering is out of question.
I use motherboard with 4 bent pins and with broken "heads" in LGA1366 and beside that only 2 of 6 ram slots work, it works flawlessly.
Anyway I would not recommend putting in expensive CPU, I would even take it to PC repair shop so they can try it for me.
If you have money to replace the cpu the go a head and pop it in and see if it boots, if you don't have the money to replace the cpu try a shop to fix it, if all else fails people have been know to put needles cut down in the hole but I wouldn't advise it, try for repair is best option the go from there, what motherbored is it ?
You can go to intel's website and see what that particular pin does. If it is something you don't use, there is a chance (small) that it will work fine. I still wouldn't put a new processor in there. Ever. Until it gets repaired.