How to fix the error CPackage::LoadFromXML that causes the package to fail?

I have had this issue on Visual Studio 2015 when creating SSIS Packages.
To resolve it, I changed the TargetServerVersion to SQL Server and that resolved the error.

I was using SSIS package which was upgraded to SSIS 2012, and the SSMS that I was using was 2008. This was the issue that I faced, and I opened the SSMS 2012 and it stopped throwing this error.

I hope this is the case, although with what I have researched, this error could be thrown for various other reasons as well.