WARNING: This is not legal advice, but merely a compilation of legal information available
As explained by afreak:
http://laws-lois.justice.gc.ca/eng/acts/C-46/section-351-20080529.html#wb-cont
351. (1) Every one who, without lawful excuse, the proof of which lies on them, has in their possession any instrument suitable for the purpose of breaking into any place, motor vehicle, vault or safe under circumstances that give rise to a reasonable inference that the instrument has been used or is or was intended to be used for such a purpose,
So this is the federal law. The intent of use is what you need to be concerned about. If you have picks to go and open doors that don't belong to you, then that is illegal. If you have picks because you're like me and want to dick around with locks that do belong to you, then that is not illegal.
Now for the BC part:
http://www.bclaws.ca/civix/document/id/complete/statreg/07030_01#section25
(4) A person, other than an authorized person or an owner of a locking device, must not possess any instrument designed or adapted to open or bypass a locking device without using the key or combination unique to that locking device, including any of the following:
(a) a key;
(b) a pick;
© a rocker key;
(d) a vibrating pick tool.
Section 25-4 indicates two things here: an authorised person or an owner. If you own that lock and you have a pick, it's legal.
Supplemented by ashley_webster:
And for the record, while owning lock picks is not illegal, it is not without value to point out that the Federal law is a reverse onus: “…without lawful excuse, the proof of which lies on them…” Meaning that there is some level of risk in owning a set of lock picks. It may be small but there are plausible scenarios where you could find yourself having to explain why you are not the person who broke into your neighbours house.