Bungie has announced some changes for players who still have Destiny accounts on PlayStation 3 and Xbox 360. Since Rise of Iron will be exclusive to PlayStation 4 and Xbox One, progression between the consoles will change.
Previously character progression for an account on both PlayStation and Xbox has been shared between their current and previous generation iterations. However after the launch of Rise of Iron, this progression will now continue separately on parallel paths.
Players who have characters on the older consoles can import them beginning in August. This has to be done within the same console family, so no PlayStation 3 to Xbox One or Xbox 360 to PlayStation 4.
This Account Import option will become available in August 2016 and requires players to login to Destiny using the same PSN ID or Xbox Gamertag they used on the previous generation of consoles. Some content will need to be re-purchased, so if you bought The Taken King on PlayStation 3, you’ll need to buy it again for PlayStation 4 to access that content.
The Account Import includes: character data, progression data, gear and inventory, purchased Silver and Eververse licenses. Some items redeemed from codes might show up in your inventory, but are not accessible by your character.
Once the Account Import is complete, progression between the consoles will no longer be shared. You could continue to play on PlayStation 3 or Xbox 360 but none of what you earn will be carried over, as Account Import is a one time thing.
This option will appear in August 2016 and will be prompted to accept the dialogue that will appear when they first login on PlayStation 4 or Xbox One.
You can read even more details about the process on Destiny’s Legacy Console Guided Support page.