I recently accidentally re-activated my old FB account from high school (deactivated 2010). It's all still there. It's more like "unpublishing" your account than really "deactivating" it.
Where are you from? Not sure if that's just in Europe but there's an option[1] to permanently delete everything from fb, though I'm sure it wasn't available a few years ago. Now it is though and I'm guessing fb is obligated to provide this b/c of some european law.
United States. I need to look again but I don't think there's the option to permanently delete. Just some kind of generic notice like "your data will eventually be permanently deleted"... eventually, like the heat death of the universe.
[1] Sorry for the google ref link but I have fb hosts blocked and couldn't find an easy way to just copy the actual link: https://www.google.gr/url?sa=t&rct=j&q=&esrc=s&source=web&cd...