Game Mechanics: Retaining levels upon deleveling

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People used to do this on live. Was fun to do for Naggy/Vox alts. Essentially could have a level 60s skill levels at 52 (and lower) if you chose to delevel said char.

I hear that is not how it works here. Would be nice to fix this since it is classic and it adds more opportunities to experiment and have fun.

Anyone who can provide evidence of this (if necessary, seeing as it is common knowledge), please feel free to do so.