Office 365: Microsoft extending deleted item retention time

Microsoft has announced that they are extending the period in which it retains deleted emails in Office 365.  Currently if you moved an email to the Deleted folder, it will permanently after 30 days.  This has now been extended to indefinitely by default and can be set by the Office 365 Administrator.  Office 365 Administrators can also create custom retention policies for email if they want the information to truly delete.

Source: Microsoft