MANILA,  Philippines - The Home Development Mutual Fund (Pag-IBIG Fund) has approved and declared P7.882 billion as dividend for 2010, which will benefit its 9 million members.

According to Atty. James Cosico, Pag-IBIG Fund spokesperson, each member will receive a dividend proportional to their savings in Pag-IBIG.

The dividend, which will be added to a member's current savings, can only be claimed after a member has reached the 20-year maturity term.

If an individual has been a member for 20 years, they claim their Pag-IBIG savings which include yearly dividends.

However, a member might not be able to claim it yet if they have oustanding loans.