The membership level settings and the pricing menu are managed separately since they are part of different modules. By updating the membership levels, this will not automatically update the pricing page. The pricing menu can be edited in the MENU MANAGER section of the admin under the TOOLBOX section of the sidebar. The menu you need to edit is the "Pricing Menu". You can find a full tutorial on how to edit this menu by following the link below. 

Adding A Membership Level To Your Pricing Page