PC-BSD Update Manager Errors out

Greetings, a newbie to FreeBSD/PC-BSD. I am running PC-BSD 10.3, just installed it, when I run the update manager I see the following snippet in the 'View Log dialog':

Error 1: chroot /.updateStage sh /.doPkgUp.sh
ERROR: Error 1: chroot /.updateStage sh /.doPkgUp.sh
Unmounting stage

Also, I see a lot of this like messages in the log:

pkg: Repo pcbsd-major needs schema upgrade from 2012 to 2013 but it is opened readonly
pkg: need to re-create repo pcbsd-major to upgrade schema version
pkg: Repository pcbsd-major cannot be opened. 'pkg update' required

So far it appears that I can't update my system. Am I misunderstanding things or is there something else I should configure or do?

Thanks in advance.