Dispensation Vine's Dictionary of New Testament Words; dispensation:
is not a period or epoch (a common, but erroneous, use of the word), but a mode of dealing, an arrangement, or administration of affairs
The stewardship/administration/stewardship committed to Paul, "to fulfill the Word of God. To unfold the completion of the Divinely arranged TIME CYCLES (seasons) OF TRUTH. SEE: Eph 1: 9-10 - Eph 3:2-6, Col 1:25-27 & Cor 9-17
Sanctification:
KJV Dictionary SANCTIFICA'TION definition: The act of making holy, the act of consecrating or of setting apart for a sacred purpose.
So, to sanctify, something is to set it apart for special use. The moment we believe/trust place our faith in Christ's Sin atoning death, burial & resurrection. God saves (judicially justifies), seal's (via the Holy spirit) & sanctifies (sets us apart, for a work/mission Eph 2:10).
At the moment we truly make the decision to trust Christ we are justified/saved (DONE DEAL). Our salvation is forever secure. We are also (at the point of receiving the indwelling Holy Spirit) sanctified (set apart for a sacred purpose) all at the same time.
However, Sanctification is a process, that continues, "which we must work through" (Phil 2:12) until the day of our final redemption. When we meet the Lord & receive a new incorruptible/heavenly body.
Final point:
At the White Throne Judgment Rev 20 (No Believers here) the UNSAVED will pay for every sin they ever commited under the law's rules.
The saved will stand at the judgment seat (greek-bema) of Christ (Rom 14:10-12, 1 Cor 3:10-4:5 & 2 Cor 5:1-10.) No sin is discussed here. Faith placed in Christ's sin redemptive payment paid/washed ALL the believers sins away. At Calvary, Christ became sin & took upon Himself all the judgment/condemnation every believer deserved.
The believers work done during the life long SANCTIFICATION process is discussed here. And rewards are given (even a drink of water Matt 10:42 Mk 9:41 given in Christ's name receives a reward). Also see 1 Cor 3:12-23. MOO! = My Opinion