My family moved to Vernon from Alberta back in 2012 and we love it!
Our kids were aged 3-10 when we moved, and it's been great for them. Both have been skiing since then, and they've got to try all sorts of other sports in the summer: mountain biking, rock climbing, hiking, etc...
If you're into outdoor activities you're going to love it here. Kal Lake is one of the most beautiful places in the world in the summer. For kids, Kal Beach, Paddle Wheel, and Lakeshore Drive are great beaches. Silver Star is an incredible retreat in the winter (even if you don't ski! It's nice to just drive up there for the day, walk around, and get some sun).
One of the biggest improvements to our lives coming from Alberta: everything is so close! In Edmonton or Calgary you have to drive 45 minutes to get anywhere. In Vernon, it's 5-10 minutes to the beach, 20 minutes to the ski lifts, and 25 minutes to Ellison Provincial Park, which has incredible camping, swimming, boating, etc...
We moved to the East Hill area, which is a mature neighborhood, but there are lots of good areas (and quite a few of the neighborhoods that were previously bad are being revitalized).
We've found cost of living in similar to Edmonton and Calgary.
Social climate: there are quite a few retired folks here, but more and more young families are moving here for the lifestyle and outdoors.