diff --git a/vault/identity_store_oidc.go b/vault/identity_store_oidc.go
index 6ff810c750786..c2f93f2ccc406 100644
--- a/vault/identity_store_oidc.go
+++ b/vault/identity_store_oidc.go
@@ -548,19 +548,11 @@ func (i *IdentityStore) pathOIDCCreateUpdateKey(ctx context.Context, req *logica
 
 	// generate current and next keys if creating a new key or changing algorithms
 	if key.Algorithm != prevAlgorithm {
-		signingKey, err := generateKeys(key.Algorithm)
+		err = key.generateAndSetKey(ctx, i.Logger(), req.Storage)
 		if err != nil {
 			return nil, err
 		}
 
-		key.SigningKey = signingKey
-		key.KeyRing = append(key.KeyRing, &expireableKey{KeyID: signingKey.Public().KeyID})
-
-		if err := saveOIDCPublicKey(ctx, req.Storage, signingKey.Public()); err != nil {
-			return nil, err
-		}
-		i.Logger().Debug("generated OIDC public key to sign JWTs", "key_id", signingKey.Public().KeyID)
-
 		err = key.generateAndSetNextKey(ctx, i.Logger(), req.Storage)
 		if err != nil {
 			return nil, err
@@ -1013,6 +1005,24 @@ func mergeJSONTemplates(logger hclog.Logger, output map[string]interface{}, temp
 	return nil
 }
 
+// generateAndSetKey will generate new signing and public key pairs and set
+// them as the SigningKey.
+func (k *namedKey) generateAndSetKey(ctx context.Context, logger hclog.Logger, s logical.Storage) error {
+	signingKey, err := generateKeys(k.Algorithm)
+	if err != nil {
+		return err
+	}
+
+	k.SigningKey = signingKey
+	k.KeyRing = append(k.KeyRing, &expireableKey{KeyID: signingKey.Public().KeyID})
+
+	if err := saveOIDCPublicKey(ctx, s, signingKey.Public()); err != nil {
+		return err
+	}
+	logger.Debug("generated OIDC public key to sign JWTs", "key_id", signingKey.Public().KeyID)
+	return nil
+}
+
 // generateAndSetNextKey will generate new signing and public key pairs and set
 // them as the NextSigningKey.
 func (k *namedKey) generateAndSetNextKey(ctx context.Context, logger hclog.Logger, s logical.Storage) error {
@@ -1481,8 +1491,25 @@ func (i *IdentityStore) pathOIDCIntrospect(ctx context.Context, req *logical.Req
 // namedKey.rotate(overrides) performs a key rotation on a namedKey.
 // verification_ttl can be overridden with an overrideVerificationTTL value >= 0
 func (k *namedKey) rotate(ctx context.Context, logger hclog.Logger, s logical.Storage, overrideVerificationTTL time.Duration) error {
-	verificationTTL := k.VerificationTTL
+	if k.SigningKey == nil {
+		logger.Debug("nil signing key detected on rotation")
+		err := k.generateAndSetKey(ctx, logger, s)
+		if err != nil {
+			return err
+		}
+	}
+
+	if k.NextSigningKey == nil {
+		logger.Debug("nil next signing key detected on rotation")
+		// keys will not have a NextSigningKey if they were generated before
+		// vault 1.9
+		err := k.generateAndSetNextKey(ctx, logger, s)
+		if err != nil {
+			return err
+		}
+	}
 
+	verificationTTL := k.VerificationTTL
 	if overrideVerificationTTL >= 0 {
 		verificationTTL = overrideVerificationTTL
 	}
@@ -1496,14 +1523,6 @@ func (k *namedKey) rotate(ctx context.Context, logger hclog.Logger, s logical.St
 		}
 	}
 
-	if k.NextSigningKey == nil {
-		// keys will not have a NextSigningKey if they were generated before
-		// vault 1.9
-		err := k.generateAndSetNextKey(ctx, logger, s)
-		if err != nil {
-			return err
-		}
-	}
 	// do the rotation
 	k.SigningKey = k.NextSigningKey
 	k.NextRotation = now.Add(k.RotationPeriod)
diff --git a/vault/identity_store_oidc_test.go b/vault/identity_store_oidc_test.go
index d52ae7a14c760..35f9c389d9ee1 100644
--- a/vault/identity_store_oidc_test.go
+++ b/vault/identity_store_oidc_test.go
@@ -937,12 +937,32 @@ func TestOIDC_PeriodicFunc(t *testing.T) {
 				numPublicKeys int
 			}{
 				{1, 2, 2},
-				{2, 3, 3},
-				{3, 3, 3},
-				{4, 3, 3},
-				{5, 3, 3},
-				{6, 3, 3},
-				{7, 3, 3},
+				{2, 2, 2},
+				{3, 2, 2},
+				{4, 2, 2},
+				{5, 2, 2},
+				{6, 2, 2},
+				{7, 2, 2},
+			},
+		},
+		{
+			// don't set SigningKey to ensure its non-existence can be handled
+			&namedKey{
+				name:            "test-key-nil-signing-key",
+				Algorithm:       "RS256",
+				VerificationTTL: 1 * cyclePeriod,
+				RotationPeriod:  1 * cyclePeriod,
+				KeyRing:         append([]*expireableKey{}, &expireableKey{KeyID: id}),
+				SigningKey:      nil,
+				NextSigningKey:  jwk,
+				NextRotation:    time.Now(),
+			},
+			[]struct {
+				cycle         int
+				numKeys       int
+				numPublicKeys int
+			}{
+				{1, 2, 2},
 			},
 		},
 	}
@@ -985,15 +1005,33 @@ func TestOIDC_PeriodicFunc(t *testing.T) {
 		}
 
 		// measure collected samples
-		for i := range testSet.testCases {
+		for i, tc := range testSet.testCases {
 			namedKeySamples[i].DecodeJSON(&testSet.namedKey)
-			if len(testSet.namedKey.KeyRing) != testSet.testCases[i].numKeys {
-				t.Fatalf("At cycle: %d expected namedKey's KeyRing to be of length %d but was: %d", testSet.testCases[i].cycle, testSet.testCases[i].numKeys, len(testSet.namedKey.KeyRing))
+			actualKeyRingLen := len(testSet.namedKey.KeyRing)
+			if actualKeyRingLen < tc.numKeys {
+				t.Fatalf(
+					"For key: %s at cycle: %d expected namedKey's KeyRing to be at least of length %d but was: %d",
+					testSet.namedKey.name,
+					tc.cycle,
+					tc.numKeys,
+					actualKeyRingLen,
+				)
 			}
-			if len(publicKeysSamples[i]) != testSet.testCases[i].numPublicKeys {
-				t.Fatalf("At cycle: %d expected public keys to be of length %d but was: %d", testSet.testCases[i].cycle, testSet.testCases[i].numPublicKeys, len(publicKeysSamples[i]))
+			actualPubKeysLen := len(publicKeysSamples[i])
+			if actualPubKeysLen < tc.numPublicKeys {
+				t.Fatalf(
+					"For key: %s at cycle: %d expected public keys to be at least of length %d but was: %d",
+					testSet.namedKey.name,
+					tc.cycle,
+					tc.numPublicKeys,
+					actualPubKeysLen,
+				)
 			}
 		}
+
+		if err := storage.Delete(ctx, namedKeyConfigPath+testSet.namedKey.name); err != nil {
+			t.Fatalf("deleting from in mem storage failed")
+		}
 	}
 }