And this is from kensmen–Following the last service on Pentecost Sunday, the paschal candle is removed to the baptistery, and from its light the candles of newly-baptized children are lighted throughout the year. The paschal candle also stands at the head of the casket during Funeral Masses, as a reminder that in Baptism the deceased person was incorporated into the death and resurrection of Jesus Christ.
So, perhaps in the “old days” the candle was extinguished on Ascension Thursday and yet “lit” when needed, to show the link between Christ’s resurrection and our own hope for eternal life–and today, it is “kept lit” and used, for exactly the same purposes–Baptisms and funerals–with exactly the same ideas of linking Christ’s resurrection to ours.. . .lit until Ascension Thursday. Thereafter, it is lit only for Baptisms and funerals, showing us the link between His Resurrection and our hope for eternal life through death to sin in Baptism, and resurrection after physical death. The small Baptismal candles given to new Catholics, who are generally received at Easter time, are lit from this Paschal candle symbol of Christ’s Body, Soul, and Divinity, lit from the new fire, on the day of His resurrection. These Baptismal candles should be kept and used, if possible, in one’s wedding, Unction, and funeral.
The Paschal candle symbolizes that the Lord is risen. Extinguishing it after Vespers on Asencsion Thursday was symbolic that the risen Lord has left Earth.It was extinguished after the Ascension Mass in the old liturgy. In the new it is kept lit through Pentecost. I think it is correct to process it out of the church after the Pentecost Mass.
It is also lit on All Saints’ Day and All Souls’ Day.It is now lit for the sacrament of Baptism and for funerals.