diff --git a/reference_model/include/version.h b/reference_model/include/version.h
index cd1d598..54c7f3a 100644
--- a/reference_model/include/version.h
+++ b/reference_model/include/version.h
@@ -16,8 +16,8 @@
 #define VERSION_H
 
 #define TOSA_REFERENCE_MODEL_VERSION_MAJOR 0
-#define TOSA_REFERENCE_MODEL_VERSION_MINOR 41
+#define TOSA_REFERENCE_MODEL_VERSION_MINOR 50
 #define TOSA_REFERENCE_MODEL_VERSION_PATCH 0
-#define TOSA_REFERENCE_MODEL_VERSION_DRAFT true
+#define TOSA_REFERENCE_MODEL_VERSION_DRAFT false
 
 #endif  //VERSION_H
diff --git a/thirdparty/serialization_lib b/thirdparty/serialization_lib
index 34a6279..9e2e0bb 160000
--- a/thirdparty/serialization_lib
+++ b/thirdparty/serialization_lib
@@ -1 +1 @@
-Subproject commit 34a627959a61b4eccbeea4400cf9684debb331dc
+Subproject commit 9e2e0bb531911f7592a183e2f690ae8fc62b64f0