A Guide to Retirement Care & Senior Living in Sudbury
Sudbury is a small city located in Northern Ontario, with just under 200,000 residents. It was ranked as the second most affordable city in Ontario in 2020 and is the fifth largest city by land area in Canada. It’s a bilingual community, with many residents speaking English and French. It is known as the hard rock mining capital of the world and was built on lumber and the mining industry. Today, it is the Northeastern Ontario’s hub for tourism, financial services, healthcare, education, and government. If you love the outdoors, Sudbury’s a great fit for you with more than 300 lakes within city limits. Sudbury is a wonderful place to find a retirement community that fits your unique needs; let Cared Upon help.
Lifestyle and Activities
Due to its large geographic area, Sudbury is an outdoorsman’s paradise. With plenty of freshwater lakes, beautiful forests and woodlands to enjoy all year round. Throughout the year, the city also hosts events and festivals like Northern Lights Folk Festival-- Canada’s longest, continually running outdoor music festival, Cinéfest Sudbury International Film Festival, Junction North International Documentary Film Festival, Sudbury Pride, and the Up Here Festival.
If festivals aren’t your thing, the city also offers attractions like Dynamic Earth, the Greater Sudbury Heritage Museum, and the Inco Superstack, as well as Science North. Science North is one of the most popular science destinations in the province of Ontario, and it’s built right into the rocky shore of Ramsey Lake. Despite all its wonderful attractions, Sudbury is likely best known for its iconic Big Nickel statue.
Weather and Climate
Sudbury’s climate is humid and continental with hot summers and long, snowy winters. You can expect to see snow on the ground for six months of the year. The average daily temperature in January is -8.4°C (16.8°F), by spring in May it’s 17.2°C (62.9°F) and midsummer in July the temperature is closer to 24.8 (76.6°F) on average.
Housing Options in Ontario: Finding the Right Fit for You
You may find that as you age, your home care and retirement needs will change. From assisted living to adult lifestyle communities, Ontario offers seniors a range of housing options to fit their lifestyle and health needs. Although the location of your retirement community in Ontario will directly affect the cost, you can typically expect the cost of assisted living to start at $2000-$3000 per month.
Although a large portion of retirement housing is privately owned and paid for, the government allows you to claim the costs of nursing homes or long-term care facilities through the Medical Expense Tax Credit (METC). Depending on the type of care you require and the facility you choose to call home, you can choose to claim for the costs which will be determined by your personal income. To learn more about the Medical Expense Tax Credit, visit the GGFL website.
Cost of Retiring in Ontario: Budgeting and Financing
In terms of retirement budgeting, you’ll find that the cost of retiring in Ontario will vary depending on the city you choose to settle down in. For example, as Toronto is one of the most vibrant and liveable cities in all of Canada, you may find that the cost of living is higher than the national average. However, seniors living on a low to moderately low income wishing to retire in Ontario may be eligible for various income support programs.
Ontario Trillium Benefit (OTB): The Ontario Trillium Benefit is a program that provides eligible seniors with payment from a combination of the Ontario Energy and Property Tax Credit, Northern Ontario Energy Credit, and the Ontario Sales Tax Credit.
Seniors residing in Ontario may also access several federally provided financial resources to help them prepare and pay for their retirement. If eligible, you may access funding through federal programs such as the Canadian Pension Plan Retirement Pension (CPP), Guaranteed Income Supplement (GIS), and the Old Age Security Pension (OAS). For more information on Government contributions and your eligibility, visit our care blog.
Post-Retirement Income Sources
For seniors not eligible or looking for government funding, there are several different ways they can look to fund their retirement.
Registered Retirement Savings Plans (RRSPs) and Tax-Free Savings Accounts (TFSAs): Using a Registered Retirement Savings Plans (RRSPs) or a Tax-Free Savings Account (TFSAs) you may save up for your post-retirement income, which will be dependent on the amount put into these accounts when you first began saving and the interest you received.
Investment accounts: Taxable investment accounts, such as stocks and bonds, is a more common form of saving up for a post-retirement income source.
Employer-sponsored pension plans: You may be eligible for an employer-sponsored pension plan through your employer. This plan involves your and your employer contributing money towards your retirement over the course of your employment.
To learn more about your post-retirement income source options, visit our resource centre.
Access to Healthcare
All residents of Ontario must sign up with the Ontario Health Insurance Plan (OHIP) to receive free health care and health services. As health care is publicly funded, under OHIP residents are entitled to coverage on health services such as visits to your doctor, hospital stays, medical surgeries, dental surgeries, ambulance services, eligible optometry services, and even travel for health-related services. While these are the standard services covered under OHIP, seniors 65 and up receive extended coverage on optometry services and prescription medication. You can find information on extended prescription medication coverage through the Ontario Drug Benefit program (ODB) on the Ontario Ministry of Health website.
For further information, you can visit and/or contact these sources:
Ontario Senior Living Guide: A comprehensive guide to all things senior living and program-related in Ontario.
Telehealth Ontario: Call 1-866-797-0000 Toll-free to get access to a confidential health information line.