Have you been thinking about switching your super around lately?

Maybe you're one of the 1 million Australians who belong to an underperforming superannuation fund.

Earlier this week, 13 of them were named and shamed by the financial watchdog.

But thanks to the ATO's YourSuper comparison tool, it's now easier than ever to compare.

Here's a step-by-step guide so you can decide whether to make the switch (and how to go about it).

Firstly, how do I choose the right super fund?

You really want to consider how the fund will perform, as well as any long-term returns you'll gain.

"Past performance is no indicator of future performance," financial adviser Claire Mackay says.

Instead of just looking at the one year, you want to look for consistent performance.

The YourSuper comparison tool provides performance data for seven years.

"You need to think about superannuation as a long-term investment," she says.

And don't forget that fees can really add up.

Xavier O'Halloran from Super Consumers Australia says even a small difference in fees can be a huge hit to your super balance at retirement.

"The rule of thumb is usually half a per cent change can be about $100,000 difference by the time you retire," he says.

Ms Mackay agrees.

"There's no point going for a great performer when their fees are going to ruin all that performance."

"So, for low super balances you want to be in a low-cost fund that has a solid performance."

Mr O'Halloran says some people might also like to consider whether their money is invested in ethical, sustainable and governance principles.

"They might be considerations people want to take into account as well when picking their fund," he says.

But what if my employer has chosen my fund?

Well, you should look at whether you're getting benefits for staying in that default fund.

For example, maybe you're getting reduced fees because your company has negotiated those cheaper fees or pays for the insurance.

"If there is a benefit, then you need to quantify whether you could get a better return and a better outcome and better insurance coverage without the subsidy of your employer," Ms Mackay says.

Should I consolidate my super funds?

Multiple super accounts mean multiple fees, so you can save a lot by consolidating your super into one account.

"The extra cost of maintaining multiple accounts across your lifetime is estimated to be $50,000 by the time you retire, so you need to weigh up if there is any benefit of this to you" Mr O'Halloran says.

How much does insurance matter?

As part of super, many of us also pay for life insurance, total and permanent disability coverage and income protection.

If you switch funds you could lose or may not be able to get equivalent insurance going forward.

Ms Mackay says that's a particular risk for people who've previously been diagnosed with a health or mental health condition, or prescribed medications.

If this is you, chances are you could be excluded from insurance coverage.

"If you transfer to a new fund, any diagnosis you have will be a pre-existing condition and possibly won't be covered by any new insurance that you obtain.

Do I bother switching if I'm older?

In short, yes.

Although you might be close to retirement, you'll still need to draw down on that investment for decades to come.

Mr O'Halloran says age should not be a roadblock to changing funds.

"When you're near retirement, the differences can be huge because your balance is generally at its greatest towards retirement and so a few percentage points difference can mean thousands or tens of thousands of dollars difference in retirement," he explains.

Insurance might also become less of a consideration when you're older.

"For example, if you're no longer earning an income there is no point having income protection," he says.

I'm ready to switch. How do I do it? 

MoneySmart has a guide on how to go about switching over or consolidating your super.

Basically, you need to:

You can also contact the new fund directly to transfer the funds.

Help, I'm having trouble switching funds!

You can make a complaint to the Australian Financial Complaints Authority.

"There are strict rules about switching. [If] somebody applies to roll over their super from one fund to another, the funds have to cooperate with each other," AFCA Lead Ombudsman for Superannuation Ms Gray says.

This is general information only. If you need personal advice, please seek out a professional.