diff --git a/README.md b/README.md
index 00642e0..68f3e9e 100644
--- a/README.md
+++ b/README.md
@@ -24,7 +24,7 @@ This section was just added so that I could get an idea of where I am at.
 - [X] Creates a folder and a .gpg-id file
 - [X] Support ``--path`` option
 - [X] Support multiple GPG ids
-- [ ] Re-encryption functionality
+- [X] Re-encryption functionality
 - [ ] Should output: ``Password store initialized for [gpg-id].``
 - [ ] ``--clone <url>`` allows to init from an existing repo
 
diff --git a/cmd/gopass/internal/cli/command/init/init.go b/cmd/gopass/internal/cli/command/init/init.go
index 871e1c8..e3e96d9 100644
--- a/cmd/gopass/internal/cli/command/init/init.go
+++ b/cmd/gopass/internal/cli/command/init/init.go
@@ -22,6 +22,7 @@ import (
 	"fmt"
 	"io/ioutil"
 	"path/filepath"
+	"strings"
 
 	"github.com/aviau/gopass"
 	"github.com/aviau/gopass/cmd/gopass/internal/cli/command"
@@ -71,10 +72,36 @@ func ExecInit(cfg command.Config, args []string) error {
 	gpgIDs := fs.Args()
 
 	store := gopass.NewPasswordStore(path)
-	if err := store.Init(gpgIDs); err != nil {
-		return err
+
+	// There is no existing store, create one.
+	if len(store.GPGIDs) == 0 {
+		if err := store.Init(gpgIDs); err != nil {
+			return err
+		}
+		fmt.Fprintf(cfg.WriterOutput(), "Successfully created Password Store at \"%s\".\n", path)
+	} else {
+		// The store already exists, reencrypt it.
+
+		// First, set the GPG ids...
+		store.SetGPGIDs(gpgIDs)
+
+		// Now, reencrypt every password
+		passwords := store.GetPasswordsList()
+		for _, password := range passwords {
+			fmt.Printf("%s: reencrypting to %s\n", password, strings.Join(gpgIDs, ", "))
+			if err := store.ReencryptPassword(password); err != nil {
+				return err
+			}
+		}
+
+		// Commit
+		if err := store.AddAndCommit(
+			"Reencrypt password store using new GPG id "+strings.Join(gpgIDs, ", "),
+			"*",
+		); err != nil {
+			return err
+		}
 	}
 
-	fmt.Fprintf(cfg.WriterOutput(), "Successfully created Password Store at \"%s\".\n", path)
 	return nil
 }
diff --git a/man/gopass.1 b/man/gopass.1
index 7744fe2..ee7b51a 100644
--- a/man/gopass.1
+++ b/man/gopass.1
@@ -56,6 +56,9 @@ Initialize new password storage and use
 for encryption.
 Multiple gpg-ids may be specified, in order to encrypt each password with multiple ids.
 This command must be run first before a password store can be used.
+If the specified
+.I gpg-id
+is different from the key used in any existing files, these files will be reencrypted to use the new id.
 Note that use of
 .BR gpg-agent (1)
 is recommended so that the batch decryption does not require as much user
diff --git a/password_store.go b/password_store.go
index 3475a90..da02861 100644
--- a/password_store.go
+++ b/password_store.go
@@ -21,6 +21,7 @@ import (
 	"bufio"
 	"fmt"
 	"io"
+	"io/ioutil"
 	"os"
 	"os/exec"
 	"path"
@@ -129,25 +130,37 @@ func (store *PasswordStore) Init(gpgIDs []string) error {
 	return store.AddAndCommit("initial commit", ".gpg-id")
 }
 
-// InsertPassword inserts a new password or overwrites an existing one
-func (store *PasswordStore) InsertPassword(pwname, pwtext string) error {
-	containsPassword, passwordPath := store.ContainsPassword(pwname)
+//SetGPGIDs will set the store's GPG ids
+func (store *PasswordStore) SetGPGIDs(gpgIDs []string) error {
+	gpgIDFile, err := os.OpenFile(
+		path.Join(store.Path, ".gpg-id"),
+		os.O_WRONLY|os.O_CREATE|os.O_TRUNC,
+		0644,
+	)
+	if err != nil {
+		return err
+	}
+	defer gpgIDFile.Close()
 
-	// Check if password already exists
-	var gitAction string
-	if containsPassword {
-		gitAction = "edited"
-	} else {
-		gitAction = "added"
+	for _, gpgID := range gpgIDs {
+		gpgIDFile.WriteString(gpgID + "\n")
 	}
+	store.GPGIDs = gpgIDs
 
+	return store.AddAndCommit(
+		fmt.Sprintf("Set GPG id to %s", strings.Join(gpgIDs, ", ")),
+		".gpg-id",
+	)
+}
+
+func (store *PasswordStore) getGPGEncryptArgs(destinationPath string) []string {
 	gpgArgs := []string{
 		"--encrypt",
 		"--batch",
 		"--use-agent",
 		"--no-tty",
 		"--yes",
-		"--output", passwordPath,
+		"--output", destinationPath,
 	}
 
 	for _, recipient := range store.GPGIDs {
@@ -158,7 +171,76 @@ func (store *PasswordStore) InsertPassword(pwname, pwtext string) error {
 		)
 	}
 
-	gpg := exec.Command(store.GPGBin, gpgArgs...)
+	return gpgArgs
+}
+
+func (store *PasswordStore) getGPGDecryptArgs(passwordPath string) []string {
+	return []string{
+		"--quiet",
+		"--batch",
+		"--use-agent",
+		"--decrypt",
+		passwordPath,
+	}
+}
+
+// ReencryptPassword will reencrypt a password to the current GPG ids
+func (store *PasswordStore) ReencryptPassword(pwname string) error {
+	containsPassword, passwordPath := store.ContainsPassword(pwname)
+
+	// Error if the password does not exist
+	if containsPassword == false {
+		return fmt.Errorf("could not find password \"%s\" at path \"%s\"", pwname, passwordPath)
+	}
+
+	// Create a directory to temporarily hold the reencrypted password
+	tempDir, err := ioutil.TempDir("", "gopass")
+	if err != nil {
+		return err
+	}
+	defer os.RemoveAll(tempDir)
+
+	tempFile := filepath.Join(tempDir, "temp.gpg")
+
+	// Pipe gpg decrypt to gpg encrypt
+	gpgDecrypt := exec.Command(store.GPGBin, store.getGPGDecryptArgs(passwordPath)...)
+	gpgEncrypt := exec.Command(store.GPGBin, store.getGPGEncryptArgs(tempFile)...)
+
+	gpgDecrypt.Stderr = os.Stderr
+
+	gpgEncrypt.Stdin, _ = gpgDecrypt.StdoutPipe()
+	gpgEncrypt.Stderr = os.Stderr
+	gpgEncrypt.Start()
+
+	if err := gpgDecrypt.Run(); err != nil {
+		return err
+	}
+
+	if err := gpgEncrypt.Wait(); err != nil {
+		return err
+	}
+
+	// Move the newly encrypted password to the password store
+	if err := os.Rename(tempFile, passwordPath); err != nil {
+		return err
+	}
+
+	return nil
+}
+
+// InsertPassword inserts a new password or overwrites an existing one
+func (store *PasswordStore) InsertPassword(pwname, pwtext string) error {
+	containsPassword, passwordPath := store.ContainsPassword(pwname)
+
+	// Check if password already exists
+	var gitAction string
+	if containsPassword {
+		gitAction = "edited"
+	} else {
+		gitAction = "added"
+	}
+
+	gpg := exec.Command(store.GPGBin, store.getGPGEncryptArgs(passwordPath)...)
 
 	stdin, _ := gpg.StdinPipe()
 	io.WriteString(stdin, pwtext)
@@ -319,8 +401,7 @@ func (store *PasswordStore) GetPassword(pwname string) (string, error) {
 		return "", fmt.Errorf("could not find password \"%s\" at path \"%s\"", pwname, passwordPath)
 	}
 
-	// TODO: Use GPG lib instead
-	show := exec.Command(store.GPGBin, "--quiet", "--batch", "--use-agent", "-d", passwordPath)
+	show := exec.Command(store.GPGBin, store.getGPGDecryptArgs(passwordPath)...)
 	output, err := show.CombinedOutput()
 
 	if err != nil {
@@ -360,8 +441,10 @@ func (store *PasswordStore) GetPasswordsList() []string {
 
 	var scan = func(path string, fileInfo os.FileInfo, inpErr error) (err error) {
 		if strings.HasSuffix(path, ".gpg") {
-			_, file := filepath.Split(path)
-			password := strings.TrimSuffix(file, ".gpg")
+			password := strings.TrimSuffix(
+				strings.TrimPrefix(path, store.Path+"/"),
+				".gpg",
+			)
 			list = append(list, password)
 		}
 		return
diff --git a/password_store_get_password_list_test.go b/password_store_get_password_list_test.go
index 3a68bc8..59a1971 100644
--- a/password_store_get_password_list_test.go
+++ b/password_store_get_password_list_test.go
@@ -31,18 +31,24 @@ func TestGetPasswordsList(t *testing.T) {
 	st := gopasstest.NewPasswordStoreTest(t)
 	defer st.Close()
 
-	_, err := os.Create(filepath.Join(st.PasswordStore.Path, "test.com.gpg"))
-	if err != nil {
+	if _, err := os.Create(filepath.Join(st.PasswordStore.Path, "test.com.gpg")); err != nil {
 		t.Fatal(err)
 	}
 
-	_, err = os.Create(filepath.Join(st.PasswordStore.Path, "test2.com.gpg"))
-	if err != nil {
+	if _, err := os.Create(filepath.Join(st.PasswordStore.Path, "test2.com.gpg")); err != nil {
 		t.Fatal(err)
 	}
 
-	_, err = os.Create(filepath.Join(st.PasswordStore.Path, "test3"))
-	if err != nil {
+	if _, err := os.Create(filepath.Join(st.PasswordStore.Path, "test3")); err != nil {
+		t.Fatal(err)
+	}
+
+	dirPath := filepath.Join(st.PasswordStore.Path, "dir")
+	if err := os.Mkdir(dirPath, os.ModePerm); err != nil {
+		t.Fatal(err)
+	}
+
+	if _, err := os.Create(filepath.Join(dirPath, "test3.com.gpg")); err != nil {
 		t.Fatal(err)
 	}
 
@@ -50,7 +56,7 @@ func TestGetPasswordsList(t *testing.T) {
 	assert.Equal(
 		t,
 		passwords,
-		[]string{"test.com", "test2.com"},
+		[]string{"dir/test3.com", "test.com", "test2.com"},
 		"Password list should contain test.com and test2.com",
 	)
 }