If you read the stuff that was out there you would know what is going to happen........
Your licence will remain valid for life as promised, however all of it's privileges will be withdrawn so if you wish to continue to use them you will have to apply for an EASA licence which will reinstate any privileges you had minus any national ratings that have been withdrawn.
The EASA licence will also be valid for life however it will have to be renewed on a fixed basis currently set at every 5 years. A pure cash generating exercise rather than safety related.
There are plenty of us in the same boat, but thats the way it is I am afraid.