Verse 3–5 constitute one sentence. To correctly interpret a verse you must keep it in the context of its sentence.
Blessed be the God and Father of our Lord Jesus Christ, which according to his abundant mercy hath begotten us again unto a lively hope by the resurrection of Jesus Christ from the dead, 4To an inheritance incorruptible, and undefiled, and that fadeth not away, reserved in heaven for you, 5Who are kept by the power of God through faith unto salvation ready to be revealed in the last time.
1 Peter 1:3-5
The resurrection is the proof that engenders life in our hope of salvation.
1 Corinthians 15:19-20 If in this life only we have hope in Christ, we are of all men most miserable. 20But now is Christ risen from the dead, and become the firstfruits of them that slept.
We have an incorruptible inheritance reserved for us.
1 Corinthians 2:9 But as it is written, Eye hath not seen, nor ear heard, neither have entered into the heart of man, the things which God hath prepared for them that love him.
We are waiting to receive our full salvation.
Romans 8:23 And not only they, but ourselves also, which have the firstfruits of the Spirit, even we ourselves groan within ourselves, waiting for the adoption, to wit, the redemption of our body.
We have not yet receive our salvation but have the promise, the earnest of the Holy Spirit which we are sealed with until the day of our redemption.
Ephesians 1:13-14 KJV In whom ye also trusted, after that ye heard the word of truth, the gospel of your salvation: in whom also after that ye believed, ye were sealed with that holy Spirit of promise, 14Which is the earnest of our inheritance until the redemption of the purchased possession, unto the praise of his glory.
Ephesians 4:30 KJV And grieve not the holy Spirit of God, whereby ye are sealed unto the day of redemption.
We receive full salvation at the time our bodies are redeemed and changed to have a body like unto Christ our Saviour. When does this take place, you ask?
1 Corinthians 15:51-53 Behold, I shew you a mystery; We shall not all sleep, but we shall all be changed, 52In a moment, in the twinkling of an eye, at the last trump: for the trumpet shall sound, and the dead shall be raised incorruptible, and we shall be changed. 53For this corruptible must put on incorruption, and this mortal must put on immortality.
1 Thessalonians 4:16-17 For the Lord himself shall descend from heaven with a shout, with the voice of the archangel, and with the trump of God: and the dead in Christ shall rise first: 17Then we which are alive and remain shall be caught up together with them in the clouds, to meet the Lord in the air: and so shall we ever be with the Lord.
We receive the redemption of our bodies and full salvation at the Rapture, or if you prefer the Translation, of the Church. I do not agree with those that deny the rapture, it is the day of our redemption.
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