In embodiment methods for supporting pre-shared key (PSK) renegotiation, a user equipment (UE) may generate a request message including a first bootstrapping transaction identifier (B-TID), a first PSK namespace identifying a first bootstrapping procedure supported by the UE, and a first correlated PSK namespace indicating PSK renegotiation is supported by the UE for the first bootstrapping procedure, and send the request message to a network device. The network device may determine an indication of a PSK renegotiation for the first correlated PSK namespace in response to determining PSK renegotiation is required for the UE, generate a response message including the indication of the PSK renegotiation for the first correlated PSK namespace, and send the response message to the UE. In response, the UE may perform a bootstrapping procedure to obtain a second B-TID and second (i.e., new) session key (Ks).