January 18, 2020 2:32 PM EST

Meghan Markle and Prince Harry will no longer use their HRH titles and will no longer be receiving taxpayer funds according to a Saturday statement from the Queen and Buckingham Palace.

“Harry, Meghan and Archie will always be much loved members of my family,” Queen Elizabeth II said in a public statement. “I recognize the challenges they have experienced as a result of intense scrutiny over the last two years and support their wish for a more independent life.”

The new “model” will take effect this spring, though the palace did not announce an official date. As part of the new agreement, Harry and Meghan will step back from all royal duties, including official military appointments. The couple will keep Frogmore Cottage as their U.K. family home, but wish to repay Sovereign Grant expenses, according to the palace.

“Harry and Meghan have made clear that they do not want to be reliant on public funds in their new lives,” the Queen’s statement said. “It has therefore been agreed that there will be a period of transition in which the Sussexes will spend time in Canada and the UK. These are complex matters for my family to resolve, and there is some more work to be done, but I hav asked for final decisions to be reached in the coming days.”

The palace did not clarify if taxpayer funds will cover the cost of security, but said there are “are well established independent processes” to make that determination, and that the palace does not comment on security details.

“I want to thank them for all their dedicated work across this country, the Commonwealth and beyond, and am particularly proud of how Meghan has so quickly become one of the family,” the Queen said. “It is my whole family’s hope that today’s agreement allows them to start building a happy and peaceful new life.”

Write to Jasmine Aguilera at jasmine.aguilera@time.com.

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