You should be aware, though, that incompatibilities may be introduced in the config files from version to version, in particular when changing to a new major version. Therefore, it is highly recommended that you make a backup copy of you old config directory before installing a new lazarus version. In the rate case that the new version does not work correctly with the old config files you should delete the contents of the config directory - it will be rewritten with default settings. Restore the OPM files from the backup in there. Hoping that the packagefiles.xml and the staticpackages.inc were not changed copy these files, too. Rebuild the IDE, and everything should work again. In the next rare case that the two package files are incompatible you must repeat the previous step without copying these files and install your OPM packages manually ("Package" > "Open package file", navigate to the OPM folder in your config and open the .lpk files one by one. Click "Compile" for the runtime packages or "Use" > "Install" for the designtime packages.
But usually these steps are not needed. I just wanted to emphasize that it is a good idea to backup the config folder before installing a new version.