Children's abilities to reframe their memories of events after hearing another child's perspective of the same events were examined, and links between memory reframing, cognitive ability, and social competence were explored. Nine- to 11-year-olds (N = 79) were told to imagine that the events in a narrated story happened to them. Next, they heard another story that described either the same events (experimental condition) or unrelated events (control condition) from another child's perspective. The children in the experimental group reframed their memories in light of the alternative perspective, whereas the children in the control condition did not. Children with higher cognitive scores had higher memory reframing scores and received higher social competence ratings than children with lower cognitive scores.