Build a records retention schedule by listing record classes, identifying the authoritative requirement for each class, defining the event that starts the retention period, setting the final action, and obtaining accountable approval. The schedule should cover physical and digital information, and you should review it whenever obligations or business processes change.
A retention schedule should let a person make the same defensible decision wherever a record sits. However, if it only lists broad document names and numbers of years, it will fail when staff need to know when the clock starts, who owns the decision or what happens at the end.
What a retention schedule is and who needs one
A retention schedule is a controlled set of rules. It describes how long you should keep defined record classes, and what should happen when their retention period ends. So it helps replace ad hoc decisions with a consistent, reviewable process.
Step one: list your record types
First, start with the work your organisation performs. Identify major record classes such as finance, contracts, customer files, employee information, governance records and operational records. Also include physical and digital locations, so the schedule reflects the real information environment.
Step two: find the rule for each
Step three: set the trigger date
A period is meaningless without a trigger. For example, the clock might start after a transaction, after employment ends, after a contract expires or after you dispose of an asset. Use the trigger the applicable authority specifies, rather than inventing a convenient anniversary date.
Step four: decide what happens at the end
Next, define the disposal action. You can securely destroy some information once it’s authorised. Other records may need review, transfer or longer-term preservation. So the schedule should clearly distinguish between these outcomes. The final action may specify that eligible records are securely destroyed at the end of the approved retention process, with evidence kept where required.
Step five: get it approved
Finally, document ownership and approval. The schedule should have accountable business owners and a governance process for exceptions. Approval turns a working spreadsheet into an organisational control.
Keeping it current
Review the schedule whenever laws, systems, services or business processes materially change. Version control matters too, because you may later need to explain which rule applied when you made a disposal decision.
Worked example for a mid-sized business
For an illustrative procurement contract class, record: the scope of the class, authoritative source, retention trigger, required period, responsible owner, system or physical location, final action and approval status. Then repeat that structure across your other record classes. Ultimately, the value is consistency and traceability, not the complexity of the template.
Illustrative retention schedule entry
| Record class | Procurement contracts |
|---|---|
| Scope | Contracts, approvals and related variations |
| Authority | Insert the verified legal, contractual or policy authority |
| Trigger | Contract expiry or termination, subject to the verified authority |
| Retention period | Insert the approved period |
| Owner | Procurement and Legal, as assigned by the organisation |
| Final action | Review, transfer or authorised destruction |
| Evidence | Approval record and disposal evidence where applicable |
This is an illustrative structure only. The organisation must verify the authority, trigger and period that apply to its circumstances.
Frequently asked questions
What fields should a retention schedule include?
Include record class, scope, authority, trigger, period, owner, location, final action, approval status and version information.
How often should it be reviewed?
Review it when relevant laws, systems, services or business processes change, and maintain version control so decisions can be traced to the rule used.
Can one schedule cover physical and digital records?
Yes. The schedule should apply to the information class across formats, while noting any format-specific handling or evidence requirements.
How Grace can help
Grace can help organisations understand their information holdings and connect retention rules with cataloguing, governance, storage and authorised disposal.
Talk to our information governance specialists to discuss the problem, the information involved and the most useful next step.
This article is intended to provide general information and commentary on records management, information governance and related regulatory developments. It does not constitute legal, regulatory, compliance or professional advice. Readers should obtain independent advice appropriate to their circumstances before acting on any information contained in this article.
