Swedish palace: 5 grandchildren retain titles but no duties

EXPLAINED What's going on with the Swedish royal family

EXPLAINED What's going on with the Swedish royal family

Princess Madeleine, Prince Carl Philip and his wife Princess Sofia "will continue their work in the non-profit foundations and organisations which they have founded or in which they are involved".

Swedish King Carl Gustaf announced on Monday that the children of his two younger children, Prince Carl-Philip and Princess Madeleine, will no longer be members of The Royal House.

An official statement from Fredrik Wersäll, the Marshal of the Realm, read: "His Majesty The King has decided on changes to The Royal House". Prince Alexander is Duke of Södermanland, Prince Gabriel the Duke of Dalarna, Princess Leonore Duchess of Gotland, Prince Nicolas Duke of Ångermanland, and Princess Adrienne Duchess of Blekinge.

Sweden's top royal court's top official Fredrik Wersall, went on to explain the move was meant to restrict the extended family's cost on the country's public.

Swedish historian Dick Harrison said the decision was likely made to meet the modern needs of the family, explaining that the Royal House had grown larger than it had been in 100 years and that many thought there was no need to pay so many members or to have them available for official duties.

A total of seven royal grandchildren could prove expensive to pay for and hard to keep occupied when they grow up, and the King has now chosen to make the first move to stop the £12million annual budget spiralling out of control.

GE freezes pensions for 20K, trimming up to $6B in debt
About 700 employees in its supplemental pension program, geared toward executives, will also have their pension benefits frozen. The company said it will also be freeze supplementary benefits for about 700 U.S. employees who became executives before 2011.

He added that the children, who are still princes and princesses, retained a "theoretical claim to the throne" and would likely continue to appear at social gatherings through their titles. "If you include the next generation there are now ten people in the line of succession", he said.

Princess Madeleine, who has three children ages 5, 4 and 1 and lives in Florida, said in an Instagram post Monday that the change has been in the works for a while, and there are no hard feelings. Our family has strong connections to both areas and we maintain our commitment there.

"We will continue to focus on issues close to our heart".

What's more, Princess Madeleine is a published author - she recently released a children's book "Stella och hemligheten" (Stella and the Secret).

King Carl Gustaf's sister Christina married a non-royal Swedish man while Margaretha married a British businessman.

Princess Estelle and Prince Oscar, the two children of the Heir Apparent, Crown Princess Victoria, are the King's only grandchildren remaining part of his Royal House as second and third in line to the throne.

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