Post-premiership
Following his party's defeat in the 1972 election by Dave Barrett's revitalized New Democratic Party (the successor to the CCF), he served as Leader of the Opposition until resigning his seat as member for South Okanagan in June 1973.
His son, W.R. "Bill" Bennett, won the South Okanagan by-election in September. W.A.C. Bennett retired as leader of the Social Credit Party on November 15, and his son Bill Bennett was elected leader of the BC Social Credit Party on November 24, 1973. NDP Premier Dave Barrett dropped the writ and sought re-election in the fall of 1975, the Socreds were returned to power with 35 seats in the 55-seat Legislature, and W.A.C.'s son Bill became the new Premier of British Columbia, inheriting his father's mantle of power as well as many of his father's cabinet members.
In 1976, W.A.C. Bennett was made an Officer of the Order of Canada. He died in 1979, and was interred in the Kelowna Municipal Cemetery, in Kelowna, British Columbia.
In 1998, the Government of Canada honoured W.A.C. Bennett with his portrait on a postage stamp of Canada. The W.A.C. Bennett Dam near Hudson's Hope, built under the Two River Policy, is named after him. The library at the Burnaby campus of Simon Fraser University also bears his name. He was featured on the cover of Time Magazine on September 30, 1966.
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