New retention policy deletes old backups in a smart way

The in-GUI docs say:

Enter a retention strategy manually. Placeholders are D/W/Y for days/weeks/years and U for unlimited. The syntax is: 7D:1D,4W:1W,36M:1M. This example keeps one backup for each of the next 7 days, one for each of the next 4 weeks, and one for each of the next 36 months. This can also be written as 1W:1D,1M:1W,3Y:1M.

But here’s some more detail:

Note that it’s important to understand that these are timeframes, not specific periods. So if you say 1W that means 1 week between backup versions NOT any specific Mon-Sun time period. (More specifically, the timeframes are converted to seconds and that’s what’s used when comparing how far apart two backup versions are.)