Among the most significant changes with this year’s Elements releases has little to do with new features but instead concerns the ways users purchase and own the software. While prior versions of Photoshop and Premiere Elements have been lifetime licenses — the user buys the software and then owns it indefinitely — this year’s release has moved to a three-year license term.
Perpetual licences are usually given for a certain version of a program though, with updates for a limited amount of time. You don’t get the new version of the software.
You can, however, continue to use that old piece of software in perpetuity.