Narrative:

IFR flight plan ZZZ1-ZZZ. On climbout the first officer was unable to set the altimeter setting with his baro set knob. I used my baro knob to set the altimeter which auto transferred to both sides. At FL180 we set 29.92 but when we reached cruise altitude we saw a setting of 30.02 with no input from us. We reset standard baro and had no further issue. On descent we set the local altimeter at 30.04 at FL180. Again it was necessary to set it on the left baro knob.we were assigned to cross zzzzz intersection at 4000 ft on the ILS xxr approach to ZZZ. As we broke out of the clouds we both commented that it appeared we were closer to terrain than we would expect. Then we got a GPWS warning of terrain and the controller said he had a low altitude warning on our aircraft. We were in visual conditions but noticed that the altimeter was set at 32.24 with no input from either crew member.

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Original NASA ASRS Text

Title: EMB 505/Phenom 300 Captain reported receiving a GPWS terrain warning as well as a low altitude alert from ATC while on approach. Reportedly; the altimeter appeared to reset itself to an incorrect altimeter setting.

Narrative: IFR flight plan ZZZ1-ZZZ. On climbout the FO was unable to set the altimeter setting with his Baro Set knob. I used my Baro knob to set the altimeter which auto transferred to both sides. At FL180 we set 29.92 but when we reached cruise altitude we saw a setting of 30.02 with no input from us. We reset standard Baro and had no further issue. On descent we set the local altimeter at 30.04 at FL180. Again it was necessary to set it on the left baro knob.We were assigned to cross ZZZZZ intersection at 4000 ft on the ILS XXR approach to ZZZ. As we broke out of the clouds we both commented that it appeared we were closer to terrain than we would expect. Then we got a GPWS warning of terrain and the Controller said he had a low altitude warning on our aircraft. We were in visual conditions but noticed that the altimeter was set at 32.24 with no input from either crew member.

Data retrieved from NASA's ASRS site and automatically converted to unabbreviated mixed upper/lowercase text. This report is for informational purposes with no guarantee of accuracy. See NASA's ASRS site for official report.