diff --git a/CHANGELOG.md b/CHANGELOG.md
index ca07c63d8..c8899a585 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,10 @@
 ## Changelog
 
+### v0.16.2
+- Add CAP_SYS_ADMIN if volume-mounts list strategy is included (fixes #856)
+- Remove unneeded DEVICE_PLUGIN_MODE envvar
+- Fix applying SELinux label for MPS
+
 ### v0.16.1
 - Bump nvidia-container-toolkit to v1.16.1 to fix a bug with CDI spec generation for MIG devices
 
diff --git a/README.md b/README.md
index 0697f4e6a..5c453c5df 100644
--- a/README.md
+++ b/README.md
@@ -39,7 +39,7 @@ The NVIDIA device plugin for Kubernetes is a Daemonset that allows you to automa
 - Run GPU enabled containers in your Kubernetes cluster.
 
 This repository contains NVIDIA's official implementation of the [Kubernetes device plugin](https://kubernetes.io/docs/concepts/extend-kubernetes/compute-storage-net/device-plugins/).
-As of v0.16.1 this repository also holds the implementation for GPU Feature Discovery labels,
+As of v0.15.0 this repository also holds the implementation for GPU Feature Discovery labels,
 for further information on GPU Feature Discovery see [here](docs/gpu-feature-discovery/README.md).
 
 Please note that:
@@ -123,7 +123,7 @@ Once you have configured the options above on all the GPU nodes in your
 cluster, you can enable GPU support by deploying the following Daemonset:
 
 ```shell
-$ kubectl create -f https://raw.githubusercontent.com/NVIDIA/k8s-device-plugin/v0.16.1/deployments/static/nvidia-device-plugin.yml
+$ kubectl create -f https://raw.githubusercontent.com/NVIDIA/k8s-device-plugin/v0.16.2/deployments/static/nvidia-device-plugin.yml
 ```
 
 **Note:** This is a simple static daemonset meant to demonstrate the basic
@@ -558,11 +558,11 @@ $ helm repo add nvdp https://nvidia.github.io/k8s-device-plugin
 $ helm repo update
 ```
 
-Then verify that the latest release (`v0.16.1`) of the plugin is available:
+Then verify that the latest release (`v0.16.2`) of the plugin is available:
 ```
 $ helm search repo nvdp --devel
 NAME                     	  CHART VERSION  APP VERSION	DESCRIPTION
-nvdp/nvidia-device-plugin	  0.16.1	 0.16.1		A Helm chart for ...
+nvdp/nvidia-device-plugin	  0.16.2	 0.16.2		A Helm chart for ...
 ```
 
 Once this repo is updated, you can begin installing packages from it to deploy
@@ -573,7 +573,7 @@ The most basic installation command without any options is then:
 helm upgrade -i nvdp nvdp/nvidia-device-plugin \
   --namespace nvidia-device-plugin \
   --create-namespace \
-  --version 0.16.1
+  --version 0.16.2
 ```
 
 **Note:** You only need the to pass the `--devel` flag to `helm search repo`
@@ -582,7 +582,7 @@ version (e.g. `<version>-rc.1`). Full releases will be listed without this.
 
 ### Configuring the device plugin's `helm` chart
 
-The `helm` chart for the latest release of the plugin (`v0.16.1`) includes
+The `helm` chart for the latest release of the plugin (`v0.16.2`) includes
 a number of customizable values.
 
 Prior to `v0.12.0` the most commonly used values were those that had direct
@@ -592,7 +592,7 @@ case of the original values is then to override an option from the `ConfigMap`
 if desired. Both methods are discussed in more detail below.
 
 The full set of values that can be set are found here:
-[here](https://github.com/NVIDIA/k8s-device-plugin/blob/v0.16.1/deployments/helm/nvidia-device-plugin/values.yaml).
+[here](https://github.com/NVIDIA/k8s-device-plugin/blob/v0.16.2/deployments/helm/nvidia-device-plugin/values.yaml).
 
 #### Passing configuration to the plugin via a `ConfigMap`.
 
@@ -631,7 +631,7 @@ EOF
 And deploy the device plugin via helm (pointing it at this config file and giving it a name):
 ```
 $ helm upgrade -i nvdp nvdp/nvidia-device-plugin \
-    --version=0.16.1 \
+    --version=0.16.2 \
     --namespace nvidia-device-plugin \
     --create-namespace \
     --set-file config.map.config=/tmp/dp-example-config0.yaml
@@ -653,7 +653,7 @@ $ kubectl create cm -n nvidia-device-plugin nvidia-plugin-configs \
 ```
 ```
 $ helm upgrade -i nvdp nvdp/nvidia-device-plugin \
-    --version=0.16.1 \
+    --version=0.16.2 \
     --namespace nvidia-device-plugin \
     --create-namespace \
     --set config.name=nvidia-plugin-configs
@@ -681,7 +681,7 @@ EOF
 And redeploy the device plugin via helm (pointing it at both configs with a specified default).
 ```
 $ helm upgrade -i nvdp nvdp/nvidia-device-plugin \
-    --version=0.16.1 \
+    --version=0.16.2 \
     --namespace nvidia-device-plugin \
     --create-namespace \
     --set config.default=config0 \
@@ -700,7 +700,7 @@ $ kubectl create cm -n nvidia-device-plugin nvidia-plugin-configs \
 ```
 ```
 $ helm upgrade -i nvdp nvdp/nvidia-device-plugin \
-    --version=0.16.1 \
+    --version=0.16.2 \
     --namespace nvidia-device-plugin \
     --create-namespace \
     --set config.default=config0 \
@@ -783,7 +783,7 @@ chart values that are commonly overridden are:
 ```
 
 Please take a look in the
-[`values.yaml`](https://github.com/NVIDIA/k8s-device-plugin/blob/v0.16.1/deployments/helm/nvidia-device-plugin/values.yaml)
+[`values.yaml`](https://github.com/NVIDIA/k8s-device-plugin/blob/v0.16.2/deployments/helm/nvidia-device-plugin/values.yaml)
 file to see the full set of overridable parameters for the device plugin.
 
 Examples of setting these options include:
@@ -792,7 +792,7 @@ Enabling compatibility with the `CPUManager` and running with a request for
 100ms of CPU time and a limit of 512MB of memory.
 ```shell
 $ helm upgrade -i nvdp nvdp/nvidia-device-plugin \
-    --version=0.16.1 \
+    --version=0.16.2 \
     --namespace nvidia-device-plugin \
     --create-namespace \
     --set compatWithCPUManager=true \
@@ -803,7 +803,7 @@ $ helm upgrade -i nvdp nvdp/nvidia-device-plugin \
 Enabling compatibility with the `CPUManager` and the `mixed` `migStrategy`
 ```shell
 $ helm upgrade -i nvdp nvdp/nvidia-device-plugin \
-    --version=0.16.1 \
+    --version=0.16.2 \
     --namespace nvidia-device-plugin \
     --create-namespace \
     --set compatWithCPUManager=true \
@@ -822,7 +822,7 @@ Discovery to perform this labeling.
 To enable it, simply set `gfd.enabled=true` during helm install.
 ```
 helm upgrade -i nvdp nvdp/nvidia-device-plugin \
-    --version=0.16.1 \
+    --version=0.16.2 \
     --namespace nvidia-device-plugin \
     --create-namespace \
     --set gfd.enabled=true
@@ -867,7 +867,7 @@ nvidia.com/gpu.product = A100-SXM4-40GB-MIG-1g.5gb-SHARED
 
 #### Deploying gpu-feature-discovery in standalone mode
 
-As of v0.16.1, the device plugin's helm chart has integrated support to deploy
+As of v0.16.2, the device plugin's helm chart has integrated support to deploy
 [`gpu-feature-discovery`](https://gitlab.com/nvidia/kubernetes/gpu-feature-discovery/-/tree/main)
 
 When gpu-feature-discovery in deploying standalone, begin by setting up the
@@ -878,13 +878,13 @@ $ helm repo add nvdp https://nvidia.github.io/k8s-device-plugin
 $ helm repo update
 ```
 
-Then verify that the latest release (`v0.16.1`) of the plugin is available
+Then verify that the latest release (`v0.16.2`) of the plugin is available
 (Note that this includes the GFD chart):
 
 ```shell
 $ helm search repo nvdp --devel
 NAME                     	  CHART VERSION  APP VERSION	DESCRIPTION
-nvdp/nvidia-device-plugin	  0.16.1	 0.16.1		A Helm chart for ...
+nvdp/nvidia-device-plugin	  0.16.2	 0.16.2		A Helm chart for ...
 ```
 
 Once this repo is updated, you can begin installing packages from it to deploy
@@ -894,7 +894,7 @@ The most basic installation command without any options is then:
 
 ```
 $ helm upgrade -i nvdp nvdp/nvidia-device-plugin \
-  --version 0.16.1 \
+  --version 0.16.2 \
   --namespace gpu-feature-discovery \
   --create-namespace \
   --set devicePlugin.enabled=false
@@ -905,7 +905,7 @@ the default namespace.
 
 ```shell
 $ helm upgrade -i nvdp nvdp/nvidia-device-plugin \
-    --version=0.16.1 \
+    --version=0.16.2 \
     --set allowDefaultNamespace=true \
     --set nfd.enabled=false \
     --set migStrategy=mixed \
@@ -928,14 +928,14 @@ Using the default values for the flags:
 $ helm upgrade -i nvdp \
     --namespace nvidia-device-plugin \
     --create-namespace \
-    https://nvidia.github.io/k8s-device-plugin/stable/nvidia-device-plugin-0.16.1.tgz
+    https://nvidia.github.io/k8s-device-plugin/stable/nvidia-device-plugin-0.16.2.tgz
 ```
 
 ## Building and Running Locally
 
 The next sections are focused on building the device plugin locally and running it.
 It is intended purely for development and testing, and not required by most users.
-It assumes you are pinning to the latest release tag (i.e. `v0.16.1`), but can
+It assumes you are pinning to the latest release tag (i.e. `v0.16.2`), but can
 easily be modified to work with any available tag or branch.
 
 ### With Docker
@@ -943,8 +943,8 @@ easily be modified to work with any available tag or branch.
 #### Build
 Option 1, pull the prebuilt image from [Docker Hub](https://hub.docker.com/r/nvidia/k8s-device-plugin):
 ```shell
-$ docker pull nvcr.io/nvidia/k8s-device-plugin:v0.16.1
-$ docker tag nvcr.io/nvidia/k8s-device-plugin:v0.16.1 nvcr.io/nvidia/k8s-device-plugin:devel
+$ docker pull nvcr.io/nvidia/k8s-device-plugin:v0.16.2
+$ docker tag nvcr.io/nvidia/k8s-device-plugin:v0.16.2 nvcr.io/nvidia/k8s-device-plugin:devel
 ```
 
 Option 2, build without cloning the repository:
@@ -952,7 +952,7 @@ Option 2, build without cloning the repository:
 $ docker build \
     -t nvcr.io/nvidia/k8s-device-plugin:devel \
     -f deployments/container/Dockerfile.ubuntu \
-    https://github.com/NVIDIA/k8s-device-plugin.git#v0.16.1
+    https://github.com/NVIDIA/k8s-device-plugin.git#v0.16.2
 ```
 
 Option 3, if you want to modify the code:
diff --git a/deployments/helm/nvidia-device-plugin/Chart.yaml b/deployments/helm/nvidia-device-plugin/Chart.yaml
index 2528153b3..00a78e7ea 100644
--- a/deployments/helm/nvidia-device-plugin/Chart.yaml
+++ b/deployments/helm/nvidia-device-plugin/Chart.yaml
@@ -2,8 +2,8 @@ apiVersion: v2
 name: nvidia-device-plugin
 type: application
 description: A Helm chart for the nvidia-device-plugin on Kubernetes
-version: "0.16.1"
-appVersion: "0.16.1"
+version: "0.16.2"
+appVersion: "0.16.2"
 kubeVersion: ">= 1.10.0-0"
 home: https://github.com/NVIDIA/k8s-device-plugin
 
diff --git a/deployments/static/gpu-feature-discovery-daemonset-with-mig-mixed.yaml b/deployments/static/gpu-feature-discovery-daemonset-with-mig-mixed.yaml
index e9f8bdb76..657f504d9 100644
--- a/deployments/static/gpu-feature-discovery-daemonset-with-mig-mixed.yaml
+++ b/deployments/static/gpu-feature-discovery-daemonset-with-mig-mixed.yaml
@@ -4,7 +4,7 @@ metadata:
   name: gpu-feature-discovery
   labels:
     app.kubernetes.io/name: gpu-feature-discovery
-    app.kubernetes.io/version: 0.16.0
+    app.kubernetes.io/version: 0.16.2
     app.kubernetes.io/part-of: nvidia-gpu
 spec:
   selector:
@@ -15,11 +15,11 @@ spec:
     metadata:
       labels:
         app.kubernetes.io/name: gpu-feature-discovery
-        app.kubernetes.io/version: 0.16.1
+        app.kubernetes.io/version: 0.16.2
         app.kubernetes.io/part-of: nvidia-gpu
     spec:
       containers:
-        - image: nvcr.io/nvidia/k8s-device-plugin:v0.16.1
+        - image: nvcr.io/nvidia/k8s-device-plugin:v0.16.2
           name: gpu-feature-discovery
           command: ["/usr/bin/gpu-feature-discovery"]
           volumeMounts:
diff --git a/deployments/static/gpu-feature-discovery-daemonset-with-mig-single.yaml b/deployments/static/gpu-feature-discovery-daemonset-with-mig-single.yaml
index 4d30f8bd9..0fe645a38 100644
--- a/deployments/static/gpu-feature-discovery-daemonset-with-mig-single.yaml
+++ b/deployments/static/gpu-feature-discovery-daemonset-with-mig-single.yaml
@@ -4,7 +4,7 @@ metadata:
   name: gpu-feature-discovery
   labels:
     app.kubernetes.io/name: gpu-feature-discovery
-    app.kubernetes.io/version: 0.16.1
+    app.kubernetes.io/version: 0.16.2
     app.kubernetes.io/part-of: nvidia-gpu
 spec:
   selector:
@@ -15,11 +15,11 @@ spec:
     metadata:
       labels:
         app.kubernetes.io/name: gpu-feature-discovery
-        app.kubernetes.io/version: 0.16.1
+        app.kubernetes.io/version: 0.16.2
         app.kubernetes.io/part-of: nvidia-gpu
     spec:
       containers:
-        - image: nvcr.io/nvidia/k8s-device-plugin:v0.16.1
+        - image: nvcr.io/nvidia/k8s-device-plugin:v0.16.2
           name: gpu-feature-discovery
           command: ["/usr/bin/gpu-feature-discovery"]
           volumeMounts:
diff --git a/deployments/static/gpu-feature-discovery-daemonset.yaml b/deployments/static/gpu-feature-discovery-daemonset.yaml
index ef8cc4044..74de881a3 100644
--- a/deployments/static/gpu-feature-discovery-daemonset.yaml
+++ b/deployments/static/gpu-feature-discovery-daemonset.yaml
@@ -4,7 +4,7 @@ metadata:
   name: gpu-feature-discovery
   labels:
     app.kubernetes.io/name: gpu-feature-discovery
-    app.kubernetes.io/version: 0.16.1
+    app.kubernetes.io/version: 0.16.2
     app.kubernetes.io/part-of: nvidia-gpu
 spec:
   selector:
@@ -15,11 +15,11 @@ spec:
     metadata:
       labels:
         app.kubernetes.io/name: gpu-feature-discovery
-        app.kubernetes.io/version: 0.16.1
+        app.kubernetes.io/version: 0.16.2
         app.kubernetes.io/part-of: nvidia-gpu
     spec:
       containers:
-        - image: nvcr.io/nvidia/k8s-device-plugin:v0.16.1
+        - image: nvcr.io/nvidia/k8s-device-plugin:v0.16.2
           name: gpu-feature-discovery
           command: ["/usr/bin/gpu-feature-discovery"]
           volumeMounts:
diff --git a/deployments/static/gpu-feature-discovery-job.yaml.template b/deployments/static/gpu-feature-discovery-job.yaml.template
index 0d4416f16..7dfa6a61a 100644
--- a/deployments/static/gpu-feature-discovery-job.yaml.template
+++ b/deployments/static/gpu-feature-discovery-job.yaml.template
@@ -4,19 +4,19 @@ metadata:
   name: gpu-feature-discovery
   labels:
     app.kubernetes.io/name: gpu-feature-discovery
-    app.kubernetes.io/version: 0.16.1
+    app.kubernetes.io/version: 0.16.2
     app.kubernetes.io/part-of: nvidia-gpu
 spec:
   template:
     metadata:
       labels:
         app.kubernetes.io/name: gpu-feature-discovery
-        app.kubernetes.io/version: 0.16.1
+        app.kubernetes.io/version: 0.16.2
         app.kubernetes.io/part-of: nvidia-gpu
     spec:
       nodeName: NODE_NAME
       containers:
-        - image: nvcr.io/nvidia/k8s-device-plugin:v0.16.1
+        - image: nvcr.io/nvidia/k8s-device-plugin:v0.16.2
           name: gpu-feature-discovery
           command: ["/usr/bin/gpu-feature-discovery"]
           args:
diff --git a/deployments/static/nvidia-device-plugin-compat-with-cpumanager.yml b/deployments/static/nvidia-device-plugin-compat-with-cpumanager.yml
index ac04cd585..8ea696525 100644
--- a/deployments/static/nvidia-device-plugin-compat-with-cpumanager.yml
+++ b/deployments/static/nvidia-device-plugin-compat-with-cpumanager.yml
@@ -38,7 +38,7 @@ spec:
       # See https://kubernetes.io/docs/tasks/administer-cluster/guaranteed-scheduling-critical-addon-pods/
       priorityClassName: "system-node-critical"
       containers:
-      - image: nvcr.io/nvidia/k8s-device-plugin:v0.16.1
+      - image: nvcr.io/nvidia/k8s-device-plugin:v0.16.2
         name: nvidia-device-plugin-ctr
         env:
           - name: FAIL_ON_INIT_ERROR
diff --git a/deployments/static/nvidia-device-plugin.yml b/deployments/static/nvidia-device-plugin.yml
index 3f8b0a368..de1b31296 100644
--- a/deployments/static/nvidia-device-plugin.yml
+++ b/deployments/static/nvidia-device-plugin.yml
@@ -38,7 +38,7 @@ spec:
       # See https://kubernetes.io/docs/tasks/administer-cluster/guaranteed-scheduling-critical-addon-pods/
       priorityClassName: "system-node-critical"
       containers:
-      - image: nvcr.io/nvidia/k8s-device-plugin:v0.16.1
+      - image: nvcr.io/nvidia/k8s-device-plugin:v0.16.2
         name: nvidia-device-plugin-ctr
         env:
           - name: FAIL_ON_INIT_ERROR
diff --git a/versions.mk b/versions.mk
index 9f65eb1e5..ed950be7a 100644
--- a/versions.mk
+++ b/versions.mk
@@ -17,7 +17,7 @@ MODULE := github.com/NVIDIA/$(DRIVER_NAME)
 
 REGISTRY ?= nvcr.io/nvidia
 
-VERSION ?= v0.16.1
+VERSION ?= v0.16.2
 
 # vVERSION represents the version with a guaranteed v-prefix
 vVERSION := v$(VERSION:v%=%)