FINALLY decided on an upgrade but do I need to upgrade my PSU to?

Well, I don't recognize your brand, but 500W is plenty for that setup, assuming you aren't running 6 hard drives. If you are confident in the quality of your PSU, then you are good to go. If not, something from one of the more well known names like Seasonic, Antec, Corsair, EVGA, or a few others would be a good way to go.
 

atomicWAR

Glorious
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They are basically an OEM that provide Thermatake with their PSU as well as a few other poorly rates PSU re-badgers.

@OP

Ideally something by Seasonic as they have an excellent track record but PC Power and Cooling, and higher end EVGA and Corsair units are decent as well. Basically you want a tier 1 or tier 2 supply...anything less is a fire hazard and a risk to your PC

https://linustechtips.com/main/topic/631048-psu-tier-list-updated/

or toms new version of a tier list...without the tiers lol..

https://www.tomshardware.com/reviews/best-psus,4229.html
 
CWT also provides corsair, antec and enermax, which are also considered good psu companies. Corsair hxi, rmx, and rmi are all cwt and all tier 1. They also provide to other bad companies like tt, cheiftec, cooler master, etc. You could say they are mediocre overall but not at best. Now the psu model in question has no reviews but from what I see, it's decent enough. If you have the money, I would buy something better but it's not necessary.