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Is this really a "automatic set" clock or is it just a pre-set?

If it is a pre-set, won't it slowly drift into the wrong time over the years, like all clocks do?

I don't care if it's a few seconds off, but I would want my clock to be accurate to the minute for the life of the clock, which (knowing the way I hang on to stuff) might be ten or twenty years.
I've owned this clock for approx. 5 years. It hasn't gained nor lost time. The daylight savings time function works like a charm, the time will automatically "fall back" and "spring forward" when it's supposed to. I can unplug this alarm clock and a few minutes later plug it back in and it will display the correct time like magic (no battery backup). My only issue with it is the alarm time setting button. It no longer works moving the time forward, I can only change the alarm backwards thro time (ha). But I would buy this alarm clock again.