In Revelation 20 we’re introduced to a thousand-year period in which (i) Satan is bound, and (ii) deceased believers ‘come to life’ and reign with Christ. Given this is the only passage in all of Scripture where this Millennium is mentioned, much speculation surrounds it. Theologians can be split into 3 main camps.
Premillennialists believe this refers to a literal thousand years that will occur some time in the future. Jesus will return at the commencement of this millennium (hence Premillennialism) where all believers (both OT and NT) who have died will be resurrected physically, to reign on this earth with Jesus for a thousand years. Satan’s influence will be removed completely for this period, until he is set lose right before Judgment Day, after which comes the new heavens and new earth.
Postmillennialists believe this refers to a thousand years (either literal or metaphorical) that will commence at some point in the future in which the whole world will be Christianised. It will be a golden age of the church, after which Jesus will return (hence Postmillennialism), then Judgment Day, then the new heavens and new earth.
Amillennialists believe the thousand years is symbolic (like most things in Revelation) for the time between Jesus’ first and second comings. The believers who rise from the dead are resurrected spiritually (in their intermediate state), where they reign with Christ in heaven.
Most Sydney Anglicans reject Postmillennialism because it claims the world will get better as Jesus’ return approaches, whereas the NT says things will get worse (e.g. 2 Thess 2). They also tend to reject Premillennialism because the NT says Jesus will return on Judgment Day, not one thousand years before it. The ‘binding’ of Satan is not removing all his influence, but rather Christians plundering his kingdom by making disciples of all nations. What a privilege to be asked to undeceive the nations from Satan’s lies and plunder his house while we do so.