Yield sign on top of traffic light

Yesterday I saw a T-junction where there was a yield sign on top of traffic light for the traffic turning right. Also the traffic light itself was turned off (it was around 10 PM). I am guessing it means that you can turn right at your discretion as long as you yield to the cars continuing straight. Is that correct?

Yes. The signs are in use if the lights are off.
You can turn as long as you give way to others.