A system and method for efficiently retaining data in sequential elements during power down modes. In various embodiments, a master latch of a flip-flop circuit receives an always-on first power supply voltage, whereas, a slave latch and other surrounding circuitry receives a second power supply voltage capable of being powered down. During a power down mode, circuitry consumes less power while the master latch retains stored data. In some designs, the flip-flop circuit is a level shifting circuit, and the always-on first power supply voltage is less than the second power supply voltage. The master latch uses complex gates with a p-type transistor at the top of a stack of p-type transistors receiving the always-on power supply voltage level on its source terminal and the retained data value on its gate terminal. This top p-type transistor is capable of remaining disabled even when used in a level shifting manner.