Yearly Archival System Using PostgreSQL

I am developing a database system using PostgreSQL in which I should be
able to delete  redundant records once a year (Time specified by the
user). THe redundant records should be inserted into the archive table
which is part of the same database.

Is this possible in pgsql? Can I program a function in SQL or a trigger
to fire when the computer switches on say Jan 1 of every year?

Will be grateful if anybody could point me in the right direction.

Vivek