Just read the weekly update. Here: Character Character Level Cap for all players will be raised to [b]34[/b] Level Cap for [b]The Taken King will be 40[/b] You will be able to level up by gaining XP alone Character Level and Light are now separate statistics Your Character Level will be grandfathered into your highest possible Light Level from all gear in your inventory and vault. I'm still confused but from my own interpretation, all of us who haven't bought TTK will be doomed at 34, UNLESS this was a typing mistake