Hi Alexamasan, great question. As you may know, folks hold differing views on what happens. So here is my view for what it is worth.
The "afterlife" is not well defined in the Bible, but here is a possible understanding. When we die, our human "spirit" departs. Before Christ died and ransomed mankind, the OT saints spirits went to a compartment of Hades called Abraham's Bosom, where they were comforted. The spirits of the lost went to a compartment of Hades where they received torment (Luke 16:19-31). But this temporary holding cell for the OT saints was emptied out after Jesus had paid the ransom, and they (their spirits) were taken to Paradise - the third heaven (Hebrews 11:39-40). Once the OT saints were "made perfect" (washed with His blood) then their spirits could enter the kingdom of God, the third heaven, Paradise. But the temporary holding cell was eliminated for those who die after Christ paid the ransom, for the thief on the cross went to Paradise that very day.
As for the lost, everyone goes to the torment compartment of Hades. But what about conscience awareness, are the spirits always aware of their condition or do they sleep? I think they are aware some of the time and sleep some of the time. . In Revelation 6:9-11, the spirits of saints who had been slain because of the Word and because of their testimony wondered how long before Judgment Day, but were told they should rest a little while longer.
Now in the future, at a time known only by the Father, Jesus will return. The spirits of the Saints will be reunited with their glorified bodies and meet Jesus in the air. This is the resurrection of life (John 5:29) for the righteous (those who have been made perfect by the blood of the Lamb.) Some time later, and again views vary(see Revelation 20:4-5), Hades will be emptied out and the spirits of the lost will be reunited with their bodies (the resurrection of judgment) and they will stand before the Great White Throne and be judged by Jesus and thrown into the Lake of Fire (Revelation 20:11-15). And once again, views vary as to what happens to the lost in the lake of fire. Universalists say they are purified and then they pop up and go to heaven. I can find no verse that supports that idea. Calvinists say they are tormented day and night forever and ever, just like Satan (Revelation 20:10). I think they suffer torment as appropriate for their misdeeds, those who piled up more wrath, suffer more, and then God destroys them body and soul, so their existence ends. So they are eternally separated from God (eternal punishment in eternal darkness) but their punishment fits their misdeeds, perfect justice no more and no less. It is certainly true that while they are suffering for their misdeeds, they get no rest day or night, and the consequence of their torment (eternal separation from God goes on forever). However, if the metaphor "smoke of their torment" refers to consequences (eternal separation in eternal darkness) rather than on going torment, then the "Eternal Torment" view has no basis in scripture - see Revelation 14:11.