Sadly there is no feature like that yet! and if you use outlook the auto-archive feature doesn't move all the emails properly, what we end up doing is create PST files and move all the old email into this PST archives manually, meaning scroll down select all the old emails and drag them to the PST this is done per year.
Time consuming task I don't really like it but that's our only solution for archiving old emails and not kill the server storage.