Sālokya means that after material liberation one is promoted to the planet where the Supreme Personality of Godhead resides, sāmīpya means remaining an associate of the Supreme Personality of Godhead, sārūpya means attaining a four-handed form exactly like that of the Lord., sārṣṭi means attaining opulences like those of the Supreme Lord, and sāyujya means merging into the Brahman effulgence of the Lord. These are the five types of liberation.
sālokya, living on the same planet as the Supreme Personality. The Supreme Person, in His different plenary expansions, lives on innumerable Vaikuṇṭha planets, and the chief planet is Kṛṣṇaloka. Just as within the material universe the chief planet is the sun, in the spiritual world the chief planet is Kṛṣṇaloka. From Kṛṣṇaloka, the bodily effulgence of Lord Kṛṣṇa is distributed not only to the spiritual world but to the material world as well; it is covered by matter, however, in the material world. In the spiritual world there are innumerable Vaikuṇṭha planets, and on each one the Lord is the predominating Deity. A devotee can be promoted to one such Vaikuṇṭha planet to live with the Supreme Personality of Godhead.
In sārṣṭi liberation the opulence of the devotee is equal to the opulence of the Supreme Lord. Sāmīpya means to be a personal associate of the Supreme Lord. In sārūpya liberation the bodily features of the devotee are exactly like those of the Supreme Person but for two or three symptoms found exclusively on the transcendental body of the Lord. Śrīvatsa, for example, the hair on the chest of the Lord, particularly distinguishes Him from His devotees.
A pure devotee does not accept these five kinds of spiritual existence, even if they are offered, and he certainly does not hanker after material benefits, which are all insignificant in comparison with spiritual benefits. When Prahlāda Mahārāja was offered some material benefit, he stated, “My Lord, I have seen that my father achieved all kinds of material benefits, and even the demigods were afraid of his opulence, but still, in a second, You have finished his life and all his material prosperity.” For a devotee there is no question of desiring any material or spiritual prosperity. He simply aspires to serve the Lord. That is his highest happiness.