Change pivot of vertices, face or edge selection in the edit mode

I am currently learning Blender and until now I dont found any feauture in Blender were you can change the pivot of a selection, it would be great if you could snap the pivot maybe to something like the 3d cursor to any point (like the vertices) of yor current model in edit mode or is there a addon still doing this job?

Hm, looks like you are searching for this:

As you see, currently blender supports pivot of 3d cursor or active object. And in 2.8 it will supports axis alignment of 3d-cursor also.

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