scylla said:
It's not possible to sponsor them at this time because CIC has stopped accepting parent sponsorship applications. It's expected CIC will start accepting parent sponsorship applications again in November of 2013 - however no one knows what the sponsorship rules will be.
If your parents wish to visit Canada as tourists for an extended stay, then you should apply for a Super Visa:
http://www.cic.gc.ca/english/visit/supervisa.asp
I think with super visa your parents could stay in Canada for up to 2 years BUT they'd receive no medical benefits normally granted to residents. It's basically a 2 year extended visitor visa.
As Scylia says CIC are currently not accepting parental sponsorship applications and have reduced the number of parental visas they are granting to a very low number. I heard some of the current parental applications in the system could take over 10 years to process.
However, how old are your parents? Are they retired or do they still work? It is possible they could apply themselves as Federal Skilled Workers. Getting 67 points under the proposed new points matrix may be tricky since people start losing points over 35 and after a certain age (50 or so) get no points at all for age.
It is expected FSW1 (as was) will re-open early next year, but with a likely total cap (probably around 10,000 maybe even less).\
Technically your parents could apply NOW if one of them could secure a job offer with a Canadian employer, since FSW2 is still open.
Or depending on their work experience they could apply under provincial nomination (this still involves getting a job offer but the province sponsors your residency application, negation the need for a labour market opinion).
Investors class is another possibility but it would take a considerable (6 to 7 figures!) investment of cash.
But there is no way realistically now that someone could retire to Canada. The Canadian government think that Canada has enough retired people already. It needs skilled workers and immigrants which can contribute to Canada's economy, which tends to favour younger applicants.
Wayne.