Today, Square Enix announced that the upcoming version update will mark the penultimate level cap increase, increasing the cap from 90 to 95. With this increase players can look forward to the addition of new abilities and spells, as well as other adjustments for all their favorite jobs. In addition, Adventuring Fellow npcs will also be receiving a level cap increase from 85 to 90.

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From the official Final Fantasy XI forums:

The forthcoming version update is scheduled to include the next stage of the continuing level cap increase for both player characters and adventuring fellows.

• The maximum job level for player characters will be raised to 95.

  A new limit break quest will be added, the completion of which will unlock levels 91 and above.　The level cap increase will be accompanied by an assortment of new job abilities, job traits, and magic spells.

• The maximum level for adventuring fellows will be raised to 90.

  A new fellow limit break quest will be added, the completion of which will unlock levels 86 and above.