The requirement is to provide a solution for archiving documents with specific rules in SharePoint Online.
Unable to find the below optiton in SharePoint Online. Is the retention policy available ? If so where it is located for a document library ?

The requirement is to provide a solution for archiving documents with specific rules in SharePoint Online.
Unable to find the below optiton in SharePoint Online. Is the retention policy available ? If so where it is located for a document library ?

You can look into the M365 retention suite of tools - https://docs.microsoft.com/en-us/microsoft-365/compliance/retention?view=o365-worldwide#retention-labels.
With that being said, don't expect any performance increase. You'll need to look elsewhere if you believe you're having performance issues.
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