The last time it so happened, with the magnetic north pole getting somewhere near where the magnetic south pole currently is, was about 780,000 years ago. The magnetic north pole, or south pole, does not coincide with the geographical north or south pole. Currently, the magnetic north pole is located somewhere over northern Canada, a fact discovered in 1831 by Sir James Clark Ross. This is the reason why they need to be recalibrated to reflect the change in the magnetic north pole. It has released a set of software that will update these instruments to the new positions of the magnetic north pole.

Source: Indian Express February 05, 2019 20:15 UTC