There is a number that Canadian retirees quietly carry with them everywhere: the combined monthly deposit from Old Age Security and the Canada Pension Plan. For most, it arrives somewhere between $1,800 and $2,400 CAD. In Canada, that number feels small. In Bohol, it feels like a different life entirely.

The island of Bohol sits at the center of the Visayas, a province of 1.4 million people anchored by the provincial capital of Tagbilaran City. It is not undiscovered. It is not underdeveloped. It has fiber internet, private hospitals, international-standard grocery stores, and a coastline that travel writers run out of adjectives describing.

What it does not have is a Canadian cost of living. And that difference changes the math in ways most retirees have never sat down to calculate.

The Philippine peso has traded between 41 and 44 to the Canadian dollar throughout 2025 and into 2026. At 42.5, a combined OAS and CPP payment of $1,900 CAD converts to approximately 80,750 PHP. What follows is a real-world picture of what that buys.

Tagbilaran City is Bohol’s economic hub. A furnished, one-bedroom condominium unit with air conditioning, security, a pool, and fiber internet typically rents between 15,000 and 22,000 PHP per month. That is $353 to $518 CAD.

In coastal towns like Panglao, Dauis, or Maribojoc, long-term house rentals for expats average between 18,000 and 28,000 PHP monthly depending on proximity to the water. The premium is real, but it is still a fraction of what a one-bedroom apartment rents for in Victoria, Halifax, or Calgary.

Those who prefer a quieter pace often look inland, where two-bedroom homes on proper lots in towns like Loboc, Loon, or Antequera can be found for 10,000 to 14,000 PHP per month. Life there moves at a different speed.

When I told people at home what I was paying for rent in Bohol, they thought I had misplaced a digit. You do not realize how normalized expensive housing has become until you live somewhere it simply is not.

Tagbilaran has multiple large supermarkets including Gaisano Capital, Island City Mall grocery, and Robinsons Supermarket. A single person shopping for a week with a mix of local and imported goods typically spends 1,800 to 2,500 PHP.

Local wet markets are a different experience entirely. Fresh bangus, snapper, and reef fish cost almost nothing by Canadian standards. Tropical fruit is sold by the kilo. A full basket of vegetables, protein, and fruit for the week can run under 800 PHP.

Restaurant meals range from 80 PHP for a generous turo-turo plate to 400 PHP for a full dinner at a quality sit-down restaurant. A good meal with a San Miguel Pale Pilsen at a clean, air-conditioned carinderia usually lands around 150 to 200 PHP.

Getting around Bohol is inexpensive. Tricycles, the primary short-distance mode of transport, charge 10 to 15 PHP per person for rides within a barangay. A dedicated hire for a 15-minute trip runs 40 to 80 PHP.

Multicabs and jeepneys connect Tagbilaran to outlying municipalities for 15 to 40 PHP. V-Hire minivans offer slightly faster shared service on major routes. A one-way trip from Tagbilaran to Panglao Island runs about 25 to 35 PHP by jeepney.

Those who prefer the comfort and convenience of a private car can hire a local driver for a half-day or full-day rate of 1,000 to 1,500 PHP.

I budgeted 5,000 pesos for transport in my first month and ended the month with most of it unspent. You start to realize that the lifestyle you imagined costs even less than you planned for. That is not a problem most retirees expect to have.

Electricity is the one cost where the Philippines does not shine. Rates through Bohol Electric Cooperative are among the higher utility costs in Southeast Asia. A one-bedroom unit running air conditioning four to six hours daily typically generates an electric bill of 2,500 to 4,500 PHP monthly.

Internet is a different story. Fiber connections in Tagbilaran and developed coastal areas run 1,299 to 1,999 PHP monthly for plans from PLDT, Globe, or Converge that deliver 50 to 200 Mbps. Water service for a single unit typically runs 400 to 700 PHP per month.

Most experienced expats in Bohol run air conditioning only at night, relying on ceiling fans and natural cross-ventilation during the day. This single habit typically reduces electric bills by 30 to 45 percent without sacrificing comfort. Ground-floor or garden units with natural shade and airflow cost even less to cool.

This is often where Canadians pause the longest. What about medical care? Bohol has several accredited private hospitals, with Ramiro Community Hospital and Bohol Health Center in Tagbilaran handling the majority of specialist and emergency services.

A general practitioner consultation at a private clinic runs 300 to 600 PHP. Specialist consultations average 600 to 1,200 PHP. Blood panels and basic lab work at Tagbilaran diagnostics clinics run 800 to 2,000 PHP for comprehensive screens.

Prescription medications carry significant savings as well. Generic pharmaceuticals at Mercury Drug and Rose Pharmacy are regulated in price, making maintenance medications for hypertension, diabetes, and cholesterol dramatically cheaper than comparable generics in Canada.

Most long-term expats purchase a private health insurance plan from a local HMO such as Maxicare, Intellicare, or Pacific Cross. A solid plan covering outpatient, inpatient, and emergency care runs 25,000 to 50,000 PHP annually for individuals under 70. That works out to roughly $49 to $98 CAD per month.

Those numbers are not projections from a financial planning whitepaper. They are pulled from current market conditions and the lived experience of Canadian and North American retirees already in the Philippines.

People ask whether OAS and CPP are enough to live on in Bohol. Enough? You will be saving money. The harder adjustment is learning to stop waiting for the catch because in Bohol, there is no catch. The island is simply that affordable.

Budget does not tell the full story. Part of what your peso buys in Bohol is access to a quality of daily life that has nothing to do with spreadsheets.

Panglao Island’s white sand beaches, consistently ranked among the best in Asia, are a tricycle ride away from downtown Tagbilaran. Entry to the Chocolate Hills overlook is 100 PHP. A half-day island-hopping tour with snorkeling, dolphin watching, and a barbecue lunch on a deserted sandbar runs 600 to 900 PHP per person.

Day trips to Loboc River for a floating restaurant lunch with live folk music run around 450 PHP. The Hinagdanan Cave, Baclayon Church, and the century-old blood compact shrine are all within reach for the cost of a single coffee drink in a Canadian city center.

Canadians living abroad who receive OAS are subject to a 25% non-resident withholding tax unless a tax treaty applies. Canada and the Philippines have had a tax convention in force since 1976 that reduces this rate on pension income. Canadians considering a move should consult a Canadian tax professional with international retirement experience before making permanent decisions. This article is informational, not financial or legal advice.

Bohol is not without its realities. The tropical heat is relentless from March to May. Typhoon season runs June through November, with most storms tracking north of the island but not all. Public infrastructure in rural municipalities ranges from functional to unpredictable.

The healthcare system, while improving rapidly, is not equivalent to Canadian provincial health services for complex or chronic care. Serious procedures requiring advanced technology often mean a short flight to Cebu City, roughly 30 minutes away, or Manila.

English is spoken fluently by most Boholanos in commerce, healthcare, and government. The Filipino people’s warmth and hospitality toward foreign residents is genuinely remarkable. Culture shock in Bohol tends to be mild. The hardest adjustment is often not the island. It is learning to trust that a comfortable retirement really does cost this little.

For a single Canadian retiree drawing a combined $1,900 CAD monthly in OAS and CPP, the math is clear. That income, stretched into Philippine pesos at current exchange rates, supports a comfortable lifestyle in Bohol with room left over each month. Not a compromised lifestyle. Not a budget retreat. A genuinely good life, in one of the most naturally beautiful places in the world.

The Jewel of the Philippines earned that name for its landscapes and its ocean. What surprises most Canadians is that the jewel comes with a price tag they can actually afford.