diff --git a/src/pytz/__init__.py b/src/pytz/__init__.py
index 578bc4a..3de0391 100644
--- a/src/pytz/__init__.py
+++ b/src/pytz/__init__.py
@@ -22,8 +22,8 @@
 
 
 # The IANA (nee Olson) database is updated several times a year.
-OLSON_VERSION = '2020e'
-VERSION = '2020.5'  # pip compatible version number.
+OLSON_VERSION = '2021a'
+VERSION = '2021.1'  # pip compatible version number.
 __version__ = VERSION
 
 OLSEN_VERSION = OLSON_VERSION  # Old releases had this misspelling
diff --git a/src/pytz/tests/test_tzinfo.py b/src/pytz/tests/test_tzinfo.py
index b0646cd..69ac1b5 100644
--- a/src/pytz/tests/test_tzinfo.py
+++ b/src/pytz/tests/test_tzinfo.py
@@ -27,8 +27,8 @@
 
 # I test for expected version to ensure the correct version of pytz is
 # actually being tested.
-EXPECTED_VERSION = '2020.5'
-EXPECTED_OLSON_VERSION = '2020e'
+EXPECTED_VERSION = '2021.1'
+EXPECTED_OLSON_VERSION = '2021a'
 
 fmt = '%Y-%m-%d %H:%M:%S %Z%z'