Older and low wage workers to get third workfare bonus payment by Saturday

About 339,000 older and low-wage workers will get their third payment of the Workfare Special Bonus (WSB) by Saturday.

The bonus is part of the government's 3.2-billion-dollar 'Grow & Share' Package announced in February 2011 to help them cope with rising costs of living. 

The Ministry of Finance said on Thursday  that workers will be paid fully in cash. 

The bonus, which is given on top of the regular Workfare Income Supplment (WIS), is being paid in four instalments. 

Two instalments amount to 50 per cent of WIS for work done in 2010, and 25 per cent for each year for work done in 2011 and 2012. 

The first instalment was paid in May 2011 and the second instalment was paid in December 2011. 

For example, a WIS recipient aged 60 and earning $1,000 a month will receive $700 in special bonus on December 1. 

This is on top of the $2,800 that he would have received in WIS this year, making it a total of $3,500. 

A worker who's 45 years old earning the same wage will receive $350 in WSB this year, on top of the $1,400 that he would have received in WIS - for a total of $1,750. 

The WSB is expected to cost the government about $450 million over three years.