The PST file is unaffected if your Outlook account is deleted or removed. All of your emails are automatically saved in a PST data file by Outlook when it is configured with a POP account. Your local drive has this PST data file. Only if you manually remove this file or if it becomes corrupted or damaged will you lose your mailbox data.
Calendars, contacts, tasks, email folders, and journals can all be restored by creating a new Outlook account and importing the PST data file into it. Please be aware that after you delete your account, you are unable to use the same username to establish a new one.