We need some time to get our light level up and if we only get a little bit of time would that make the annual pass worth it if you can only do the stuff in a couple months? I hope someone has an answer.
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It will be permanent.
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Very good question. Now that Bungie has moved away from 'DLC' to event driven (?) annual pass its very possible they will take stuff away like they do in other event or seasonal content.