Installing or Updating your Software will give access to new features and bug fixes. Updating your R installation can be done in a couple of ways. One Simple way is go to R website and download the latest version for your system.
Check R Version
You can check R Version using the console
Deciding on the old packages
Once the installation is finished click the Finish button.
Now it asks if you want to copy your packages fro the older version of R to Newer version of R. Once you choose yes all the package are copied to the newer version of R.
After that you can choose if you still want to keep the old packages or delete.
You can even move your Rprofile.site from older version to keep all your customised settings.
Installing from R Website
To get the latest release go to https://cran.r-project.org/ and download the file for your operating system. Open the downloaded file and follow the on-screen installation steps. All the settings can be left on default unless you want to change a certain behaviour.
Updating from within R using installr Package
You can also update R from within R by using a handy package called installr.
Open R Console (NOT RStudio, this doesn't work from RStudio) and run the following code to install the package and initiate update.
install.packages("installr") library("installr") updateR()