diff --git a/charts/postgres/Chart.yaml b/charts/postgres/Chart.yaml
index 366d088de665a9b4685013177a57c16c86570c56..bbe7e8d483f73a22e0daec4efedad7b64e018be4 100644
--- a/charts/postgres/Chart.yaml
+++ b/charts/postgres/Chart.yaml
@@ -7,6 +7,6 @@ type: application
 maintainers:
   - name: groundhog2k
 
-version: "0.4.8"
+version: "0.5.3"
 
-appVersion: "15.6"
+appVersion: "16.2"
diff --git a/charts/postgres/README.md b/charts/postgres/README.md
index 232069ac7720cc0aa19c3b0ae6c02e8e13953ec4..427fc6dcfb9c2ac3c2b8ae515c861da7b09faf1b 100644
--- a/charts/postgres/README.md
+++ b/charts/postgres/README.md
@@ -1,6 +1,6 @@
 # PostgreSQL
 
-![Version: 0.5.2](https://img.shields.io/badge/Version-0.5.2-informational?style=flat-square) ![Type: application](https://img.shields.io/badge/Type-application-informational?style=flat-square) ![AppVersion: 16.1](https://img.shields.io/badge/AppVersion-16.1-informational?style=flat-square)
+![Version: 0.5.3](https://img.shields.io/badge/Version-0.5.3-informational?style=flat-square) ![Type: application](https://img.shields.io/badge/Type-application-informational?style=flat-square) ![AppVersion: 16.2](https://img.shields.io/badge/AppVersion-16.2-informational?style=flat-square)
 
 ## Changelog
 
diff --git a/charts/postgres/RELEASENOTES.md b/charts/postgres/RELEASENOTES.md
index fdcf2a284e5876a64405fad03723d648ec1a0c53..7ba79205a1433eb1169a33e98d1b2cb4b96a6349 100644
--- a/charts/postgres/RELEASENOTES.md
+++ b/charts/postgres/RELEASENOTES.md
@@ -43,4 +43,5 @@
 | 0.5.0 | 16.0 | Upgraded to Postgres 16.0 |
 | 0.5.1 | 16.1 | Upgraded to Postgres 16.1 |
 | 0.5.2 | 16.1 | Added support for network policies and additional labels and annotations |
+| 0.5.3 | 16.2 | Upgraded to Postgres 16.2 |
 | | | |