When the UK monarchy is abolished?

When? You're assuming a lot.

It's pretty doubtful that the monarchy will be abolished in the UK. Both Conservatives and Liberals, for the most part, like the pageantry and pomp that go with a constitutional monarchy. There is a thing called a "life peer." This is basically creating a noble title that lasts for the lifetime of the person who receives it. Well, whether you're Tony Blair or Margaret Thatcher, you want to be able to reward those who do something for your cause. Medals, Orders, Knighthoods and Life Peerages are a great reward to the faithful. In the US, we have a meritocracy of money, but once you get to Bill Gates' wealth, aside from the Medal of Freedom, what can we do for our best and brightest?

There are no plans to abolish the monarchy. According to British author Tina Brown there has never been a really serious appetite for abolishing the monarchy;this was tried after the beheading of Charles I and did not work and the monarchy reinstated.Ms. Brown writes that the "crown represents a constitutional force above politics" and exercises "a force of stability

in an otherwise bewilderingly changing world."

It more than likely won't happen during any of our lifetimes. If it did, they do have their own private wealth.