"3 Blessed be the God and Father of our Lord Jesus Christ, who hath blessed us with all spiritual blessings in heavenly places in Christ:
4 According as he hath chosen us in him before the foundation of the world, that we should be holy and without blame before him in love:
5Having predestinated us unto the adoption of children by Jesus Christ to himself, according to the good pleasure of his will,
6 To the praise of the glory of his grace, wherein he hath made us accepted in the beloved.
7 In whom we have redemption through his blood, the forgiveness of sins, according to the riches of his grace;
8 Wherein he hath abounded toward us in all wisdom and prudence;" Ephesians 1:3-8 (KJV)
“According as he (the Father) has chosen us in Him (Jesus, the Son) before the foundation of the world” (vs4) Blessed us with all spiritual blessings. . . in Christ” (vs3). “Having predestinated us unto the adoption of children by Jesus Christ to Himself. . . (vs5) . . . He hath made us accepted in the beloved” (vs6).
Paul later points out that because man did sin and needs redemption, this provision was also available in Jesus Christ, the Son: “In whom we have redemption through his blood, the forgiveness of sins, according to the riches of his grace” (v.7).
Unto this as the Goal: “That in the dispensation of the fullness of times he might gather together in one all things in Christ, both which are in heaven, and which are on earth; even in Him” (Eph 1:10). “According to the eternal purpose which he purposed in Christ Jesus our Lord” (Eph 3:11).
Focus attention on these verses which outline the eternal purpose, to see Jesus out of any time-perspective, for understanding the issues from the God’s eternal perspective.
OMT Eph 3:10 is the only other place I believe Paul uses the word dispensation as it should be used, i.e., pertaining to time allowed for the advancement of the purposes of God dispensing information to our understanding to explain Himself.
If you understand the above I believe this verse needs to have the question asked: "Who is this Paul is referring to"?
"That we should be to the praise of his glory, who first trusted in Christ." Eph 1:12 (KJV only) To understand why I emphasize the need to read it from that Trans. i.e., that you make the judgment absent commentary.