Exchange Online, which comes bundled with Office 365 , has a very unique feature for Email compliance and Management . It is called Retention Policies.
Exchange Online offers two types of policies: archive policies and delete policies. Both types can be combined on the same item or folder. For example, a user can tag an email message to be automatically moved to the In-Place Archive in a specified number of days and deleted after another span of days.
To know more about Email retention Policies , click here
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Microsoft MVP 2009
Microsoft Worldwide Partner of the Year 2011 & 2007