No fee everyday banking
Set up direct deposit and skip the monthly fee. Free to open, and the Easy plan has no monthly fee. Worth doing if you will actually move your pay or your CRA deposits over, not if the card sits unused. Code BREMO2026.
MMild climate, stunning scenery, excellent healthcare, and some of the highest housing costs in Canada. The full 2026 picture./p>
British Columbia consistently ranks as one of Canada's most desirable retirement destinations. The mild Pacific climate, world-class healthcare, outdoor recreational opportunities, and diverse culture draw retirees from across the country and around the world. The catch: housing prices in the Lower Mainland and Victoria are among the highest in North America. But BC's interior — Kelowna, Kamloops, Penticton — offers dramatically lower costs with excellent quality of life.
| Program | Benefit | Eligibility |
|---|---|---|
| BC Senior's Supplement | Up to $99.30/month (single) | 65+, low income, receive GIS |
| BC PharmaCare | Drug coverage based on income | All BC residents; seniors receive enhanced coverage |
| BC Hydro Seniors Discount | ~$100/year energy rebate | Seniors receiving GIS |
| Home Owner Grant (HOG) | Up to $1,045/year property tax reduction | Principal residence owners |
| Senior HOG Supplement | Additional $275 off property tax | Homeowners 65+ |
| Property Tax Deferral | Defer taxes as low-interest loan | 55+, 10%+ equity in home |
| City | Avg Home Price | Avg Rent (2BR) | Notable For |
|---|---|---|---|
| Victoria | ~$820,000 | ~$2,600 | Mildest climate in Canada; walkable; cultural hub |
| Kelowna | ~$680,000 | ~$2,100 | Wine country; lakes; growing retiree community |
| Nanaimo | ~$590,000 | ~$1,900 | Island living; more affordable than Victoria |
| Penticton | ~$560,000 | ~$1,750 | Warm, dry Okanagan; beaches; affordable |
| Kamloops | ~$480,000 | ~$1,600 | Interior; golf; 4 seasons; affordable |
| Prince George | ~$370,000 | ~$1,300 | Most affordable major city; northern lifestyle |
BC has a progressive income tax with rates from 5.06% to 20.5%. For a retiree with $55,000 in annual income, the combined federal + BC provincial tax is approximately $12,500 — higher than Alberta but lower than many other provinces. The BC basic personal amount for 2026 is $11,981.
If you move to BC, you become a BC resident for tax purposes on the date you establish your permanent home there. You'll pay BC provincial tax on the portion of the year you are a resident. There are no transfer fees or "welcome taxes" for interprovincial moves in Canada.
KOHO is available province-wide and perfect for receiving CPP, OAS, BC Seniors Supplement, and investment income — all with zero monthly fees. Use code BREMO2026 for a $100 bonus.
Open KOHO — Get $100