pension vs paying off business mortgage

my friend (it actually isn't me) owner-manages a small business. it's a ltd co, he is the only shareholder. he has some money in a pension (not sure how much, probably less than 100k) but stopped it c.15 years ago when the business was in difficulties. now the business is stable again and making a profit, so that he now has built up around 250k in the business bank account. the business owns the city centre premises that it trades from, but it's mortgaged with about 600k left to be paid over 15 years. my friend is nearly 60, good health, plans to carry on as manager as long as health/age allows. has grown up kids but they don't want to take over the business. owns his own home with no mortgage and has no other debts.

say he takes 200k of the business profits, leaving 50k for emergencies. should he pay down the mortgage (reducing it by1/3 approx), pay the money into a pension, or go 50-50 on both (which is what he's been advised)? or something else?