The term “salvation” is pivotal in this paragraph (see also 1 Peter 1:9–10) and catches the entirety of what God has in store for his elect. The elect are not simply saved from the narrow confines of a this-worldly womb, but are saved for a glorious inheritance, the kingdom of the Father that will never pass away. That kingdom clearly includes forgiveness of sins, adoption as God’s sons and daughters, and an inheritance of life eternal. The term “salvation” catches the totality of the package.
5 who by God’s power are being guarded through faith for a salvation ready to be revealed in the last time.