Union leaders at ESB have announced they will serve notice of industrial action.
The dispute is focused on a €1.6bn hole in the electricity supplier's pension scheme.
Union leaders say if no agreement is reached by December 16, they will engage in industrial action.
Age Action Ireland says it is seriously concerned about the effect possible power cuts would have on the elderly.
However, union chief Brendan Ogle says it's their only option.
He said: "People were compelled to join the pension scheme. They were denied a State pension and they pay into that pension, every week and every month they put in 5% of their wages.
"They are now being told they will have only 3% of their expected pension and no State back-up.
"So, they are not getting into a debate on assets, they are not getting into a debate on any issue other than the abandonment by the ESB of their staff's pension and their responsibility for it."