In Him we have redemption through His blood, the forgiveness of sins, according to the riches of His grace which He made to abound toward us in all wisdom and prudence, having made known to us the mystery of His will, according to His good pleasure which He purposed in Himself, that in the dispensation of the fullness of the times He might gather together in one all things in Christ, both which are in heaven and which are on earth-in Him.
God reveals everything to us in His perfect timing. The word “dispensation” used here means “house rules” or “economy” and it refers to God’s administration, arrangement or organization of all of human history, through His sovereignty and according to His will and perfect timing. In other words, this means as the sovereign Creator of the universe, God is in control. Moreover, this means that God has a purpose for us and for our lives. This also means that the universe is not random or unorganized. On the contrary, God has a very specific direction in which He is taking all of creation. God is moving us forward toward the culmination of His plan of redemption and the return of Christ Jesus our Lord. We have to remember that the culmination of God’s plan of redemption is to bring all of creation under the lordship of Jesus Christ to the glory of God the Father.
Therefore, the “dispensation of time,” refers to the moment in human history yet future, when God’s plan of redemption will be fully revealed at the second coming of Christ. And it’s at this very moment in time that every human soul will recognize and acknowledge that Jesus is Lord, to the glory of God the Father. This will be the completion of human history as we know it. A time when all believers are gathered together during the Millennial Kingdom. Satan will be bound for one-thousand years. After which Satan will then be released for a short time to deceive mankind, before he is ultimately defeated and thrown into the Lake of Fire. And it’s after that God gathers everything together under the new heavens and the new earth; uniting everything under the Lordship of Christ. Dear child of God, this means that the completed work of Jesus on the Cross of Calvary is the axis on which all of history turns. The whole purpose of human history being the fulfillment of God’s plan of redemption, which was completed on the Cross of Calvary. And the culmination of that event will be the return of Jesus at the end of the age.