For the first time in seveal years Social Security benefits will increase. Starting in 2012 benefits go up 3.6%.
You can receive Social Security retirement at the same time you are working, however if you are younger than full retirement age and earn more than certain amounts your benefits will be reduced. If you are between the ages of 62 and 66 by the end of 2012 you can make up to $14,640 before losing any benefits. If you turn 66 in 2012 you will not lose any benefits if you earn $38,880 or less before reaching age 66. There is no earnings cap once a beneficiary turns 66.