You now have granular control over how long records are kept and what happens when a record type reaches capacity.
When configuring a record type, you can now define retention limits and an eviction policy.
Retention limits
Custom record limit: Cap the number of records for a specific record type to help optimize your tenant-wide usage of records.
Record retention: This is an existing setting that now considers what the "Record age is based on".
Record age is based on: Choose whether a record's age is based on when it was
createdorlast updated.
Eviction policy
When record limit is reached: Choose what should happen when the record type reaches its record limit
Send warnings when you've reached 80% of the limit then stop creating new records when 100% of the limit is reached.
Evict oldest records based on how record age is configured.
Learn more about the retention options in the records documentation.