Major changes to the Pandemic Unemployment Payment will come into effect from Tuesday.
The payment will be reduced to €208 for all recipients as the scheme enters the next phase of its winding down.
The change will see people who previously earned less than €151.50 per week receive a payment of €150.
The PUP was introduced in March 2020 at a flat rate of €350 before it was restructured and given based on an individual's previous earnings.
It closed to new applicants on January 22, with the remaining recipients now expected to transition to the jobseekers payment from April 5, following an announcement from Minister for Social Protection Heather Humphreys of the winding down of the scheme in January.
She said: "What was originally intended to be just a six-week short-term payment will now last for over two years with over €9 billion in payments issued to workers."
At the end of February, 53,706 people were in receipt of the PUP.
However, this week, the number will fall below 50,000, compared to over 605,000 at its peak in May 2020.
This will be the first time the number of people receiving the payment has fallen below 50,000.
The Employee Wage Subsidy Scheme brought in by the Government at the beginning of the pandemic also saw substantial reductions in recent weeks.
The rate paid per employee was reduced to €100 until April 30, after which the subsidy scheme will end.
Businesses that were directly impacted by the restrictions announced on December 20l also saw a cut in their rates. However, these were reduced to €203 per employee instead of €100.
The only exception to this was for employees in the €151.50 to €202.99 weekly wage bracket who had their subsidy cut to €151.50.
The full rate of employer's PRSI also returned to its usual rate for all businesses on March 1.
The rate was reduced to 0.5% for all wages eligible for the subsidy.
There were still 22,500 employers registered to receive the Employee Wage Subsidy Scheme at the end of February.
The Government is said to have spent over €6.5bn on the EWSS so far, with the accommodation and food services sector recorded as the biggest recipient of the scheme, having received €1.849bn in supports since it was introduced.
The second biggest recipient has been the wholesale and retail trade, which has received a total of €795m so far.
